Accountancy, asked by MaryAkins1359, 6 months ago

Which of the following has a priority in case of payment at the time of dissolution

Answers

Answered by bhartigupta534
5

On dissolution of firm, when assets are distributed, liabilities are disposed in a proper order wherein payment to third party debt is on priority, followed by amount due to partners and in the end the residual amount is divided amongst the partners in profit sharing ratio...

Answered by aarjusahu
0

Answer:

On dissolution of firm, when assets are distributed, liabilities are disposed in a proper order wherein payment to third party debt is on priority, followed by amount due to partners and in the end the residual amount is divided amongst the partners in profit sharing ratio.

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