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Question
Match the following in case of Change in Profit Sharing Ratio:
| (i) | Ratio in which Partners share profit and losses before reconstitution of firm | (a) | New Profit Sharing Ratio |
| (ii) | Ratio in which Partners surrender their share of profit in favour of other partner's | (b) | Gaining Ratio |
| (iii) | Ratio in which all the Partners share the future profit and losses | (c) | Sacrificing Ratio |
| (iv) | Ratio in which Partners acquire the share from other | (d) | Old Ratio |
Match the Columns
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Solution
| (i) | Ratio in which Partners share profit and losses before reconstitution of firm | (d) | Old Ratio |
| (ii) | Ratio in which Partners surrender their share of profit in favour of other partner's | (c) | Sacrificing Ratio |
| (iii) | Ratio in which all the Partners share the future profit and losses | (a) | New Profit Sharing Ratio |
| (iv) | Ratio in which Partners acquire the share from other | (b) | Gaining Ratio |
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