On the dissolution of the partnership firm the amount realised from sale of assets shall be applied in following order. (a) Distributing the amount left among the partners in their profit sharing ratio (b) Paying amount due to partner on account of loan advanced by him (c) Paying amount due to the creditors (d) Paying partners' capital account balances Choose the correct answer from the options given below :

Question

Option 1: (b), (d), (a), (c)

Option 2: (c), (b), (d), (a)

Option 3: (a), (b), (c), (d)

Option 4: (b), (a), (d), (c)

AfterBoards · Accepted Answer

The answer is '(c), (b), (d), (a)'. View full solution:

CUET Accountancy 2022 20 July Shift 1 PYQs

Keyboard Shortcuts