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P1 C6 RETIREMENT/DEATH OF A PARNER — Elements of Account STD 12 Commerce — Question

Gujarat BoardEnglish MediumSTD 12 CommerceElements of AccountP1 C6 RETIREMENT/DEATH OF A PARNER1 Mark
Question
Explain the meaning of gain share.
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Answer

For a partner, when old share of profit is more than the new share of profit then the difference is known as 'Gain' share.

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