CUET Accountancy - On retirement/death of a partner, the remaining partners who have gained due to change in profit sharing ratio should compensate the : | PYQs + Solutions

CUET Accountancy 2023 28 May Shift 1

Partnership

Medium

No partner

Retiring partner only

Remaining partners only (Who have sacrificed.)

Remaining partners (who have sacrificed) as well as retiring partner.

✅ Correct Option: 4

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L, N and T are partners sharing profits in the ratio of 5:3:2. If N retires, the gaining ratio of L & T would be.......

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On the Death of a Partner, which account is debited for his/her share of profit for the intervening period, i.e., the period from date of the last balance sheet till the date of the partner's death:

CUET Accountancy 2023 28 May Shift 1 PYQs

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