State the order of payment to be followed on the dissolution of a firm:

A. To each partner proportionately what is due to him/her from the firm for advances provided i.e. Partner's Loan A/c

B. To each partner proportionately what is due to him/her on account of capital

C. For the debts of the firm to outside parties

Choose the correct answer from the options given below:

According to which section of the partnership Act 1932, the dissolution of a partnership between all the partners of a firm is called the dissolution of the firm?

Determine Gain/Loss on Realisation.

If a partnership firm is being dissolved, a liability taken over by a partner is credited to :

Unrecorded liabilities when paid are shown in:

Realization profit of 55,980 to be distributed amongst partners is:

A partnership is not dissolved when:-