On dissolution of a firm, out of the proceeds received from the sale of assets will be paid first of all:
A. Partner’s Capitals
B. Partner’s Loan to Firm
C. Partner’s additional capital
D. Outside Creditors
Answer:D
On dissolution of a firm, out of the proceeds received from the sale of assets will be paid first of all:
A. Partner’s Capitals B. Partner’s Loan to Firm C. Partner’s additional capital D. Outside Creditors