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At retirement the continuing partners' old ratio was four ratio three and they took the retiring partner's share equally. What will be the gaining ratio?

Answer and explanation

Correct answer: One ratio one

If the retiring partner's share is taken equally then the gain is equal. Therefore the gaining ratio is one to one.

Related tags

GoodwillRetirementGaining-RatioSpecial-CasePartnership Accounts Basic ConceptsAccountancyClass 12 Mcq

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