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Reconstitution of Partnership (Retirement of Partner) — Book Keeping & Accountancy STD 12 Commerce / Arts — Question

Maharashtra BoardEnglish MediumSTD 12 Commerce / ArtsBook Keeping & AccountancyReconstitution of Partnership (Retirement of Partner)1 Mark
Question
How is Gain Ratio calculated?
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Answer

Gain ratio is calculated at the time of retirement of a partner by deducting old ratio from new ratio.

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