Upon dissolution of firm, losses, including deficiencies of capital, shall be paid first out of profits and then ___________.
A. Out of pro its
B. Out of capital
C. By the partners individually in their profit sharing ratio.
D. By the
Answer:B
Upon dissolution of firm, losses, including deficiencies of capital, shall be paid first out of profits and then ___________.
A. Out of pro its B. Out of capital C. By the partners individually in their profit sharing ratio. D. By the