Practicing Success
At the time of dissolution of the partnership firm, the amount due to the partners on account of capital is paid out of the assets at the time of settlement of accounts after the payment of........... |
Third party debts Partner's loan to firm Both of these Either option 1 or 2 |
Both of these |
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: |