Practicing Success
The order of payment/receipt of cash on dissolution of partnership firm is : (A) Paying each partner his due on account of capital Choose the correct answer from the options given below : |
(B), (C), (A), (D) (A), (C), (B), (D) (C), (D), (A), (B) (A), (B), (C), (D) |
(B), (C), (A), (D) |
The correct answer is Option (1) → (B), (C), (A), (D) 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: |