State the sequence of payments in case of dissolution of a partnership firm.
A. To pay outside liabilities of the business
B. To pay partner's loan (if any)
C. To utilise the amount in settlement of capital A/c
D. To distribute the amount among the partners in their profit sharing ratio
E. To pay Realisation expenses
Choose the correct answer from the options given below:
This question was previously asked in
Shift 02/06/2023 3:30 PM - 6:30 PM
A
E, A, B, C, D
B
D, C, B, A, E
C
A, B, D, C, E
D
A, D, B, C, E
Correct Answer
E, A, B, C, D
Detailed Explanation
NOTE* AS PER NTA THE ANSWER TO THIS QUESTION IS (1)
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