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P1 C4 RECUSTRUCTION OF PARTNERSHIP — Elements of Account STD 12 Commerce — Question

Gujarat BoardEnglish MediumSTD 12 CommerceElements of AccountP1 C4 RECUSTRUCTION OF PARTNERSHIP1 Mark
Question
What is gain ratio?
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Answer

When there is a change in the ratio of profit and loss sharing of existing partners, a portion of profit of certain partners is increased. This increased portion of profit of a partner is known as 'Gain Ratio'.
Gain ratio of a partner = New profit and loss ratio of a partner Old profit and loss ratio of a partner.

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