Question

In Piecemeal Distribution of Cash which liability paid off preferentially?​

Answer 1

Explanation:

Answer:

Since assets are realised in pieces, the liabilities as well as partners capital balances are also paid in pieces. This method of distribution is called as 'Piecemeal Distribution of Cash'. On dissolution of firm, the assets are sold and the cash thus made available is used to pay off firm's liabilities.

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