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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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