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Question
Match the following items:
| (i) | Retirement of a partner leads to: | (a) | No change in profit sharing ratio |
| (ii) | Death of a partner leads to: | (b) | Loss in profit sharing ratio |
| (iii) | Admission of a partner leads to: | (c) | Gain in profit sharing ratio |
Match the Columns
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Solution
| (i) | Retirement of a partner leads to: | (c) | Gain in profit sharing ratio |
| (ii) | Death of a partner leads to: | (c) | Gain in profit sharing ratio |
| (iii) | Admission of a partner leads to: | (b) | Loss in profit sharing ratio |
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