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Change in profit sharing ratio among partners results in ______ -

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Question

Change in profit sharing ratio among partners results in ______

Options

  • The sacrifice of a share in profit by one or more partners

  • Gain of share in profit by one or more partners

  • Both The sacrifice of a share in profit by one or more partners and the Gain of a share in profit by one or more partners.

  • None of the above

MCQ
Fill in the Blanks

Solution

Change in profit sharing ratio among partners results in Both The sacrifice of a share in profit by one or more partners and the Gain of a share in profit by one or more partners.

Explanation:

This could result in a win for a few partners and a loss for others. Profited partners should compensate the sacrificing partner/partners in the profit-sharing ratio.

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Change in Profit Sharing Ratio Among the Existing Partners
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