Question

1. On firm's dissolution, which one of the following
account should be prepared at the last ?
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Answer 1

Answer:

Answer: Partners capital because it is an internal liability. Any firm or organisation needs to repay it's creditors and other external liabilities.So I think partners capital should be prepared at the .

Answer 2

Answer:

Partners capital because it is an internal liability. Any firm or organisation needs to repay it's creditors and other external liabilities.So I think partners capital should be prepared at the end.

Explanation:

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