Match the following items with their order of payment on dissolution of a firm (from first to last):

  Column A   Column B
(i) Partners' capital (a) Paid after firm's debts and partner's loans
(ii) Debts of the firm to third parties (b) Paid first out of firm's property
(iii) Partner's loan or advance (d) Paid after third-party debts but before capital
(iv) Partner's private debts (c) Paid out of partner's private property first

1
(i)-(a), (ii)-(b), (iii)-(d), (iv)-(c)
2
(i)-(b), (ii)-(d), (iii)-(a), (iv)-(c)
3
(i)-(a), (ii)-(d), (iii)-(b), (iv)-(c)
4
(i)-(c), (ii)-(a), (iii)-(d), (iv)-(b)

Sponsored

hivanix.in

Visit

This quiz is brought to you by hivanix.in

🌐 Web App Development

Quick Navigation