In case of dissolution of firm, Assets shall be applied in the order of - A. Paying loan from Partners. B. Paying secured debts of the firm C. Paying Partners Capital in proportion D. Paying unsecured debts of the firm E. The residue shall be divided among the partners in their Profit sharing ratio. Choose the correct answer from the options given below :

Question

cdquestions Admin · Accepted Answer

The correct option is (B) :B, D, A, C, E.

Answer

A, B, E, C, D

Answer

B, D, A, C, E

Answer

B, E, D, A, C

Answer

E, D, A, B, C

List-I	List-II
(A) Nominal Capital	(I) Offered to the public
(B) Reserve Capital	(II) Called up capital minus calls in arrears
(C) Paid up Capital	(III) Memorandum of Association
(D) Issued Capital	(IV) Called only at the time of winding up

The Correct Option is B

Solution and Explanation

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