Arun, Bijay and Harish are partners in a firm sharing profits in the ratios of 8:5:3. It is felt that Bijay will no more be able to actively participate in the affairs of the firm. Hence, with effect from April 1, 2025, they decided that, in future they will share the profits in the ratio of 2:1:2. Bijay will:

A, B, C are equal partners in a firm. C retired at the end of the year. Which of the following will not be receiving by the retiring partner?

Rubina and Mukta were partners sharing profits & losses equally. As per the partnership agreement, the share of profit of the deceased partner will be worked out on the basis of sales, and specified that the sales during the year 2024-25 were Rs. 9,00,000, and profit for same period was Rs.3,00,000 and the sales from April 1, 2025 - September 30, 2025 were Rs. 1,50,000 Rubina died on September 30, 2025. Calculate Rubina's share of profit.

On retirement/death of a partner, the remaining partners who have gained due to change in profit sharing ratio should compensate the :

Which of the following item is deducted for a sum due to a legal representative of a deceased partner?

In case of death of a partner, for deceased partner's share of profits for the intervening period (from the closing of last year account till the date of death) in the books of accounts, the following journal entry is recorded:

Profit and Loss Supense A/c Dr.

To Deceased Partner's Capital A/c

Which of the following entry is to be made later to close the Profit and Loss Suspense Account?

Which of the following statement is true ?