Question

significance of piecemeal distribution​

Answer 1

Answer:

MEANING OF PIECEMEAL DISTRIBUTION OF CASH: If all the assets are realized immediately on dissolution of the firm, then all the liabilities may also be paid off and the partners will receive the amounts due to them on capital accounts at that time.

Explanation:

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Answer 2

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Piecemeal denotes something being done piece by piece or one stage at a time. In accounting, "Piecemeal Distribution" is a method wherein as and when money is received from sale of assets, it is used to pay liabilities in stages or gradually.

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