In case of the dissolution of a firm, the firm ceases to conduct business and has to settle its accounts. Arrange in the correct manner and order the…
CUET UG 2025 — Accountancy Partnership
In case of the dissolution of a firm, the firm ceases to conduct business and has to settle its accounts. Arrange in the correct manner and order the assets of the firm, including any sum contributed by the partners to make up for deficiencies of capital:
(A) In paying to each partner proportionately what is due to him on account of capital
(B) In paying the debts of the firm to the third parties
(C) In paying each partner proportionately what is due to him/her from the firm for advances as distinguished from capital (i.e. partner's loan)
(D) The residue, if any, shall be divided among the partners in their profit sharing ratio
Choose the correct answer from the options given below:
Held on 30 May 2025 · Verified 13 Jul 2026.
Options
- A
(B), (C), (A), (D)
- B
(A), (B), (C), (D)
- C
(B), (A), (D), (C)
- D
(C), (B), (D), (A)
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