Assertion (A): At the time of retirement of a partner, the combined profit share of the remaining or continuing partners increases.
Assertion (A): At the time of retirement of a partner, the combined profit share of the remaining or continuing partners increases.
Reason (R): Remaining or Continuing partners take a part of profit share of the retiring partners as a result their individual profit share increases.
Anurag Pathak Changed status to publish July 2, 2023
Ans – a)
When a partner retired, the combined profit share of continuing partners increases as the individual profit share of continuing partners increases after acquiring the retiring partner’s share.
Anurag Pathak Changed status to publish July 2, 2023
