Question

Sia, Tisha, and Aryan were partners sharing profits and losses in the ratio of 4 : 7 : 1. The firm closes its books on 31st March every year. Tisha died on 1st July 2024. Sia and Aryan will acquire Tisha’s share in which of the following ratios?

विकल्प

• 1 : 1

• 4 : 1

• 4 : 7

• 7 : 1

Answer 1

4 : 1

Explanation:

When a partner retires or dies and a new profit sharing ratio among the remaining partners is not given, then it is presented that the remaining partners will share profits and losses in their old profit sharing ratio.

Thus Sia and Aryan will acquire it. Tisha’s share in their old profit sharing ratio, i.e., 4 : 1.