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If a question gives only old ratio and the retiring partner which rule will apply?

Answer and explanation

Correct answer: Old mutual ratio of continuing partners will be new ratio

Without extra information continuing partners remain in their old mutual ratio. This is the common exam rule.

Related tags

Exam RuleNo InformationNew RatioNew RatiosReconstitution Retirement Or Death Of A PartnerAccountancyClass 12 Mcq

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