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When continuing partners keep sharing profits in their old mutual ratio what will be the gaining ratio?

Answer and explanation

Correct answer: Same as their old mutual ratio

If the mutual ratio of continuing partners does not change the gain is assumed in the same old mutual ratio. This is a common exam rule.

Related tags

GoodwillMutual-RatioGaining-RatioGoodwill SettlementReconstitution Retirement Or Death Of A PartnerAccountancyClass 12 Mcq

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