Concept:A change in the profit-sharing ratio is needed only when the membership or composition of the partnership changes.
Explanation:The death, retirement, or admission of a partner alters the existing partnership agreement.
Therefore, the profit-sharing ratio must be revised in each of those cases.
However, an appreciation in the value of partners’ assets is merely a revaluation of existing assets.
It does not change the number of partners or their ownership structure.
So, it does not require any adjustment in the profit-sharing ratio.
Answer:D. partners assets value appreciates