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When new ratio is not given what is the safest exam assumption about gaining ratio of continuing partners?

Answer and explanation

Correct answer: They gain in their old mutual ratio

If new ratio is absent the old mutual ratio of continuing partners is assumed to continue. This is used for goodwill burden.

Related tags

GoodwillNo-New-RatioAssumptionGoodwill SettlementReconstitution Retirement Or Death Of A PartnerAccountancyClass 12 Mcq

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