X wants to retire from the firm. The profit on revaluation of assets on the date of retirement is OMR 10,000. X is of the view that it be distributed among all the partners in their profit-sharing...

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Extracted text: X wants to retire from the firm. The profit on revaluation of assets on the date of retirement is OMR 10,000. X is of the view that it be distributed among all the partners in their profit-sharing ratio whereas Y and Z are of the view that this profit be divided between Y and Z in new profit-sharing ratio. Who is correct in this case? Both X and Y are correct None of them are correct X is correct. Y is correct