Practicing Success
Assets are used to settle the accounts of the firm at the time of dissolution of the firm, If any partner has given a loan to the partnership firm, then at which no these assets are used to pay this loan? |
Ist 2nd 3rd Not paid from asset |
2nd |
The assets of the firm, including any sum contributed by the partners to make up deficiencies of capital, shall be applied in the following manner and order: |