Which of the following is a method for calculating the profit for the intervening period if a partner died in the middle of the year?
A) Average profit of past years
B) Super profit of last 5 years
C) Sales generated during the period
D) Capital profit of last years
E) Last year profit
F) Revenue reserve of last years

A, C, E

The correct answer is option 2- A, C, E.

A) Average profit of past years
C) Sales generated during the period
E) Last year profit
are the method for calculating the profit for the intervening period if a partner died in the middle of the year.

** Profit can be calculated on many basis. The base can be mentioned in the partnership deed or it will be mutually decided by the partners. Closing the books and preparing the final accounts for the period following the death of a partner can be a complex and time-consuming process. To simplify this procedure, the deceased partner's share of the profit can be determined using alternative methods.
* One approach is to calculate their share based on the previous year's profit.
* Alternatively, an average of profits from the past few years can be used.
* Another option is to base the calculation on the sales generated during the period.