In the absence of any information regarding the acquisition of share in the profit of a retiring or deceased partner, it is assumed that the remaining partners acquire the outgoing partner's share in their old profit sharing ratio.
In the absence of any information regarding the acquisition of share in the profit of retiring/deceased partner by the remaining partners, it is assumed that they will acquire his/her share in the:
Held on 20 Aug 2022 · Verified 13 Jul 2026.
Capital Ratio
Equal Ratio
New Profit Sharing Ratio
Old Profit Sharing Ratio
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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.