Arrange how the losses, including deficiencies of capital, shall be paid in the correct sequence :

(A) Out of profits

(B) Out of capital of partners

(C) In their profit sharing ratio (Individually by partners)

Choose the correct answer from the options given below:

In case of dissolution Machine costing Rs 20,000, alongwith cash of Rs 5,000 were given to creditors of Rs 30,000 in full settlement of their claim.

In this case Realisation A/c will be Debited with ………….

Neil, Kapil, Sunil started a furniture business in partnership. After one year of their operation, they started exporting Opium by keeping them in blank spaces between the furniture. As authorities came to know about the illegal business of the firm, they will compel them for .......

In case of dissolution of a firm, if a partner has agreed to bear the realisation expenses and payment is made by the firm, the correct journal entry would be:

Realisation A/c is debited with __________ on the dissolution of firm.

On dissolution of the firm, partner's capital accounts are closed through:

As per Section 48 of the Partnership Act 1932, which of the following will be utilized for payment of losses, including deficiencies of capital:

(A) Out of Profits

(B) Out of capital of Partners

(C) By partners individually in their profit sharing ratio

(D) Creditors Assets

Choose the correct answer from the options given below: