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What is meant by retirement of a partner?

  • Post category:Accountancy
  • Reading time:1 mins read

SOLUTION

Retirement of a partner is one of the modes of reconstituting the firm under which the existing partnership deed comes to an end and in its place a new one among the remaining partners comes into existence.







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Previous PostA, B and C are partners sharing in the ratio of 3: 2: 1. They admit D for l / 4th share. It is agreed that B would retain his original share. New ratio will be……….  (C.B.S.E. Comptt. 2019)
Next PostWhat is meant by ‘Gaining Ratio’ on retirement of a partner?

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