Question

In case of dissolution of a firm which liabilities are to be paid first ?​

Answer 1

Answer:

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Explanation:

The proceeds from the sale of assets along with the contribution of the partners at the time of dissolution of the firm are first used up to pay off the external liabilities, i.e., the creditors, bank loans, bank overdrafts, bills payable etc

Answer 2

Answer:

the proceeds from the sale of asset along with the contribution of the partner at the time of dissolution of the firm and the first used to pay off the external liabilities i.e.the the creator's bank lons etc...

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