Which of the following is generally considered the most reliable basis for estimating a partner’s share of profit up to the date of death?

Correct answer: पिछले कुछ वर्षों के औसत लाभ

The profit up to the date of death is generally estimated using the average profit of the preceding years because it gives a more balanced measure of the firm’s normal earning capacity. Profit for only one year may contain unusual fluctuations. Drawings, cash balance and the partner’s loan are not measures of profit. In an examination, first check the basis prescribed in the partnership deed; if none is given, the usual average-profit basis is applied.