Liabilities to third parties are paid -------------

Related MCQs

• The account opened to close the various assets and liabilities of the firm on dissolution is called ------------- account
• In the event of dissolution of firm the partners personal assets are first used for payment of -------------- liabilities
• The amount of insurance ………….. to be paid at regular intervals
• On dissolution of firm creditors are paid --------
• Firm’s debts are paid first out of ----------- assets
• On dissolution of firm -------- are paid first
• On dissolution, partners loan, if any, will be paid ---------
• Amount advanced by partner over and above the capital is paid