X, Y, Z are equal partners in a firm. Z retires from the firm. The new profit-sharing ratio between X and Y is 1:2. The gaining ratio will be:
A. 3:2
B. 2:1
C. 4:1
D. Only Y gains by 1/3
Answer:D
X, Y, Z are equal partners in a firm. Z retires from the firm. The new profit-sharing ratio between X and Y is 1:2. The gaining ratio will be:
A. 3:2 B. 2:1 C. 4:1 D. Only Y gains by 1/3