On the retirement of a partner from a partnership firm, accumulated profits and losses are distributed to the partners on the basis of
A. New profit sharing ratio
B. Old profit sharing ratio
C. Gaming ratio
D. Sacrificing ratio
Answer:B
On the retirement of a partner from a partnership firm, accumulated profits and losses are distributed to the partners on the basis of
A. New profit sharing ratio B. Old profit sharing ratio C. Gaming ratio D. Sacrificing ratio