Question

In case of change in profit sharing ratio............... paid compensation to.............. partners.​

Answer 1

Answer:

In case of change in profit sharing ratio COMPENSATE paid compensation to EXISTING partners.

Explanation:

Adjustment of Capital and Change in Profit Sharing Ratio Among Existing Partners. One of the forms of reconstitution of the firm is Change in Profit Sharing Ratio among Existing Partners. Here there is no change in the partners carrying on the business of the firm.

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