In case of dissolution of a firm which liabilities are to be paid first?
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In case of dissolution of a firm which liabilities are to be paid first?
In case of dissolution of a firm which liabilities are to be paid first?
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Explanation:
The proceeds from the sale of assets along with the contribution of the partners at the time of dissolution of the firm are first used up to pay off the external liabilities, i.e., the creditors, bank loans, bank overdrafts, bills payable etc.
Explanation:
refer to the attachment.
hope its help you moti.
@itz_mr.ani