Choose the correct order in which the assets of the firm, including any sum contributed by the partners to make up deficiencies of capital, shall be applied in the dissolution of the firm.

(A) In paying to each partner the residue in profit sharing ratio.

(B) In paying to each partner proportionately what is due to him on account of capital; and

(C) In paying the debts of the firm to the third parties

(D) In paying each partner proportionately what is due to him/her from the firm for advances as distinguished from capital (i.e. partner' loan);

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A, B and C constituted a partnership to carry out a venture to build offices for Zakash Office Sites Ltd. On the completion of venture under which way the dissolution of a firm will takes place?

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 .......

Arrange the following in the correct sequence, in which the assets of the firm shall be applied, including any sum contributed by the partners to make up deficiencies in the case of dissolution of a partnership firm.

(A) In paying each partner proportionately what is due to him/her from the firm for advances as distinguished from capital (i.e. partner's loan).

(B) In paying the debts of the firm to the third parties.

(C) The residue, if any, shall be divided among the partners in their profit sharing ratio.

(D) In paying to each partner proportionately what is due to him on account of capital.

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On the dissolution of a firm, creditor's are transferred to:

In case of dissolution of a partnership firm, losses, including deficiencies of capital, shall be paid first out of ...............

Which of the following are the ways for the dissolution of a firm?

(A) Dissolution by Notice

(B) Dissolution by agreement

(C) Dissolution by court

(D) Dissolution by not terminating business

Choose the correct answer from the options given below: