Question

6) Under which section, settlement of accounts under dissolution is made?​

Answer 1

Answer:

Explanation:

Section 48 lays down certain rules for settlement of partnership accounts after the dissolution of firm under the usual course of business. However, the partners can mutually agree for a different settlement mode. The rules are as follows: Any losses or deficiencies of capital will be paid out of profits.

Answer 2

Answer:

Section 48 lays down certain rules for settlement of partnership accounts after the dissolution of firm under the usual course of business. However, the partners can mutually agree for a different settlement mode. The rules are as follows: Any losses or deficiencies of capital will be paid out of profits.

Explanation:

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