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When I was doing an exercise on tenses, I found this sentence:

I have not found my ring yet which I lost at the party yesterday.

My question is why we used present perfect? I asked some people and they told me that because of the word "yet", we used present perfect. But I need a reason, which leads me to better understanding of how to use tenses rightly. I think that it's better to use present continuous because the person who is lost his ring is keep looking for it, and the action is continuing, How much is that correct?

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    it is not advisable to accept an answer so soon. Please read this help section – Usernew Oct 31 '15 at 14:08
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    @Usernew, Yes you are right, But I feel that your answer is good. – hbak Oct 31 '15 at 14:18
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    Still we must let others answer and give their opinion. Next time, wait for a day before selecting an answer as best :) – Usernew Oct 31 '15 at 14:21
  • Find/Found is an action that occurs in an instant. By definition it cannot be continuous. So the present continuous would be nonsense. "I am finding my ring" sounds absurd! – D_Bester Oct 31 '15 at 15:10
  • @D_Bester, very useful comment! however I remember an old song said "I'm finding you", is that common? – hbak Oct 31 '15 at 15:37
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Present Perfect is used when we want to express a past action the results of which still continues.

Example:

  • I have lived in Texas for five years. [it implies that I am still living in Texas]
  • We have known each other for the past ten years.[and we still know]

Present Continuous is used to express an action going on at the time of speaking:

  • We are searching for the wedding ring.

NOTE This(Present continuous) tense is sometimes used to mark an action that will happen in the future;

  • I am leaving for Southampton tomorrow.

Considering your example, I can understand your misunderstanding.

I have not found my ring yet which I lost at the party yesterday.

This implies that you still have not found the ring.[it implies that you are still looking for it.]

If you want to emphasis on the action rather than result, then use present continuous:

  • I am still searching/looking for my ring which I lost at the party yesterday.

or

  • I am still searching/looking for my ring that I lost at the party yesterday.

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