When a partner retires and no new ratio or gaining ratio is specified, the continuing partners are presumed to continue sharing profits in their old ratio. The old ratio between A and C was 2:1, so the new ratio between A and C remains 2:1.
A, B and C are partners sharing profits in the ratio of 2:3:1. B retries, then new profit sharing ratio between A and C will be
Held on 15 Jul 2022 · Verified 13 Jul 2026.
2:1
3:1
2:3
1:1
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An unrecorded asset is taken over by a creditor in full settlement in such a case
The liability of partners is
As per AS-26 Intangible assets like goodwill should be written off.
Identify the correct statement from the given below :-
By virtue of which section of the Indian Partnership Act 1932, partnership is defined as 'the relation between persons who have agreed to share the profits of a business carried on by all or any of them acting for all'.
Work through every CUET UG Partnership PYQ, year by year.