The 4th chapter of the NCERT accountancy book Class 12 Part 1 begins with the explanation of different ways in which a partner can retire from a partnership deal. This is followed by a brief guideline on which aspects need adjustment when any of the partners retire.
This chapter contains a precise table discussing how sacrificing ratio differs from that of gaining ratio in a business partnership. This table is followed by a discussion on the need to re-evaluate assets and reassess the liabilities on retirement or death of a particular partner.
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