Changes in the profit sharing ratio may occur as a result of
I. skill contributed by partners
II. health status
III. old age
IV. Intangible asset increase
I. skill contributed by partners
II. health status
III. old age
IV. Intangible asset increase
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Correct Answer: Option C
Explanation:
Change in profit sharing ratio may occur as a result of the following:
- changes in skill contributed by partners
- ill health
- old age
Change in profit sharing ratio may occur as a result of the following:
- changes in skill contributed by partners
- ill health
- old age