I am calculated at the time of retirement or death of a partner and change in profit sharing ratio. Who am I?
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Gaining ratio is calculated at the time of retirement or death of a partner. It is the ratio in which the remaining partners acquire the outgoing partner's share of profit. When the partner retires, the profit sharing ratio of the continuing partners gets changed
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Explanation:
Gaining ratio: Ratio in which the partners have agreed to gain their share of profit from other partners.
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