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State Whether the following Statement is True or False: If a partner retires, then other partners have a gain in their profit sharing ratio.

State Whether the following Statement is True or False:

If a partner retires, then other partners have a gain in their profit sharing ratio.

True or False

The statement is true.

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Chapter 4: Retirement or Death of a Partner - OBJECTIVE TYPE QUESTIONS [Page 4.157]

Chapter 4 Retirement or Death of a Partner
OBJECTIVE TYPE QUESTIONS | Q (B) 11. | Page 4.157

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