Question : Which of the following statements is false?
Option 1: New Profit-share = Existing (Old) Profit-share + Profit Share taken of Deceased Partner
Option 2: Gaining ratio = new ratio – old ratio
Option 3: New ratio = old ratio + sacrificing ratio
Option 4: None of the above
Answer (1)
3rd Jan, 2024
Correct Answer: New ratio = old ratio + sacrificing ratio
Solution : Answer = New ratio = old ratio + sacrificing ratio
The statement "New ratio = old ratio + sacrificing ratio" is false. The correct formula is "New ratio = old ratio – sacrificing ratio."
Hence, the correct option is 3.
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