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How is a continuing partner’s new share calculated when a partner retires?

Answer and explanation

Correct answer: Old share + acquired share

A continuing partner’s new share equals their old share plus the share they gain from the retiring partner. The gained share is added because it increases the continuing partner’s share.

Related tags

New RatioGaining ShareNew RatiosReconstitution Retirement Or Death Of A PartnerAccountancyClass 12 Mcq

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