In case of dissolution of Partnership Firm, assets of the firm shall be applied in following order:
(A) Paying unsecured debts of the firm
(B) Paying secured debts of the firm
(C) Paying partner's loan
(D) Paying partners' capital.
Choose the correct answer from the options given below:
1
(A), (B), (C), (D)
2
(A), (C), (B), (D)
3
(B), (A), (C), (D)
4
(C), (B), (A), (D)