Question

When assets are realized gradually, available cash should be utilized last to pay _________.
(A) Govt. Taxes
(B) Secured Creditors
(C) Partner's Capital
(D) Realization expenses​

Answer 1

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Answer 2

It should be utilised to pay partner's capital.

• Assets are eventually realized, and cash is collected. The final findings will not be known for some time.
• Meanwhile, the money collected is divided up among the different parties. Outside creditors are paid first as they are the priority
• This is followed by any loans granted by the partners over and above their capitals, and finally, in the end the partners' capitals are cleared.