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State Whether the following Statement is True or False: X, Y and Z are partners in the ratio of 1/2 :1/3 :1/6. On retirement of Y, the new ratio of X and Z will be 3 : 1.

State Whether the following Statement is True or False:

X, Y and Z are partners in the ratio of `1/2 : 1/3 : 1/6`. On retirement of Y, the new ratio of X and Z will be 3 : 1.

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) 22. | Page 4.157

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