Economics · Partnership Accounts
Arrange the following steps in the correct sequential order to calculate the new profit-sharing ratio of the continuing partners when the retiring partner's share is acquired in a specifically agreed proportion (Gaining Ratio): A. Add the newly acquired fractional share to the existing old profit share of each continuing partner. B. Ascertain the exact fractional share of the retiring partner acquired by each continuing partner by applying the agreed Gaining Ratio to the outgoing partner's share. C. Identify the existing old profit-sharing ratio of both the retiring partner and the continuing partners. D. Express the updated individual shares as a final simplified new profit-sharing ratio among the continuing partners. Choose the correct answer from the options given below:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1C, B, D, A
- 2C, B, A, D✓
- 3B, C, A, D
- 4C, A, B, D
Correct answer
C, B, A, D
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