Question : Existing Old Profit Share plus Acquired Profit Share is_____________.

Option 1: Old ratio

Option 2: New profit sharing ratio

Option 3: Gaining ratio

Option 4: None of the above

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

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

Question : Divya, Vikas and Varun are partners sharing profits in the ratio of 1/2: 1/8: 3/8 respectively. Vikas retires and surrenders 1/9 th from his share in favour of Divya and the remaining in favour of Varun. gaining ratio and new profit-sharing ratio will be :

Option 1: Gaining ratio 8: 1 and new profit sharing ratio 11: 7

Option 2: Gaining ratio 11: 7 and new profit sharing ratio 8: 1

Option 3: Gaining ratio 4: 2 and new profit sharing ratio 7: 11

Option 4: None of the above

Question : Which of the following statements is incorrect?

Option 1: New Profit-sharing Ratio among remaining or continuing partners is same as their Old Profit-sharing Ratio.

Option 2: Gaining Ratio of remaining or continuing partners is same as their Old Profit-sharing Ratio.

Option 3: Gaining ratio is the ratio in which the remaining partners take the outgoing (retired or deceased) partner's share.

Option 4: None of the above