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If the new ratio of continuing partners is not given then in which ratio are they generally assumed to share profits?

Answer and explanation

Correct answer: In their old ratio

When new ratio is not given the old ratio of continuing partners is assumed to continue. In such questions it may also become the gaining ratio.

Related tags

GoodwillOld-RatioNew-RatioGoodwill SettlementReconstitution Retirement Or Death Of A PartnerAccountancyClass 12 Mcq

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