{"id":58140,"date":"2024-04-16T01:14:16","date_gmt":"2024-04-16T01:14:16","guid":{"rendered":"https:\/\/exam.pscnotes.com\/mcq\/?p=58140"},"modified":"2024-04-16T01:14:16","modified_gmt":"2024-04-16T01:14:16","slug":"retirement-of-a-partner-leads-to-of-remaining-partners","status":"publish","type":"post","link":"https:\/\/exam.pscnotes.com\/mcq\/retirement-of-a-partner-leads-to-of-remaining-partners\/","title":{"rendered":"Retirement of a partner leads to . . . . . . . . of remaining partners."},"content":{"rendered":"<p>[amp_mcq option1=&#8221;gain in profit sharing ratio&#8221; option2=&#8221;loss in profit sharing ratio&#8221; option3=&#8221;no change in profit sharing ratio&#8221; option4=&#8221;none of the above&#8221; correct=&#8221;option3&#8243;]<!--more--><\/p>\n<p>The correct answer is: <strong>C. no change in profit sharing ratio<\/strong>.<\/p>\n<p>When a partner retires, the remaining partners&#8217; profit sharing ratio is not affected. This is because the retiring partner&#8217;s share of the profits is simply distributed among the remaining partners. For example, if a partnership has three partners with equal profit sharing ratios of 1\/3, and one partner retires, the remaining two partners will each have a profit sharing ratio of 2\/3.<\/p>\n<p>Here is a brief explanation of each option:<\/p>\n<ul>\n<li>Option A: gain in profit sharing ratio. This is not correct because the remaining partners&#8217; profit sharing ratio is not affected by the retirement of a partner.<\/li>\n<li>Option B: loss in profit sharing ratio. This is not correct because the remaining partners&#8217; profit sharing ratio is not affected by the retirement of a partner.<\/li>\n<li>Option C: no change in profit sharing ratio. This is the correct answer because the remaining partners&#8217; profit sharing ratio is not affected by the retirement of a partner.<\/li>\n<li>Option D: none of the above. This is not correct because option C is the correct answer.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>[amp_mcq option1=&#8221;gain in profit sharing ratio&#8221; option2=&#8221;loss in profit sharing ratio&#8221; option3=&#8221;no change in profit sharing ratio&#8221; option4=&#8221;none of the above&#8221; correct=&#8221;option3&#8243;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[85],"tags":[],"class_list":["post-58140","post","type-post","status-publish","format-standard","hentry","category-accounting","no-featured-image-padding"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.2 (Yoast SEO v23.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Retirement of a partner leads to . . . . . . . . of remaining partners.<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/exam.pscnotes.com\/mcq\/retirement-of-a-partner-leads-to-of-remaining-partners\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Retirement of a partner leads to . . . . . . . . of remaining partners.\" \/>\n<meta property=\"og:description\" content=\"[amp_mcq option1=&#8221;gain in profit sharing ratio&#8221; 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