State Whether the Following Statements is True Or False : - Book Keeping and Accountancy
State whether the following statements is true or false :
Gaining ratio means old ratio minus new ratio.
Explanation: Gaining ratio is the ratio in which continuing partners acquire the retiring partner’s share. In other words,
Gaining Ratio = New Ratio – Old Ratio
Hence, the given statement is incorrect.
Concept: Retirement Or Death of a Partner - Gain Ratio
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