Accounting · Dissolution of a Partnership Firm
According to Section 48 of the Indian Partnership Act, 1932, arrange the following in the correct sequence in which they will be utilized for the payment of losses (including deficiencies of capital): (A) Out of capital of partners. (B) Out of profits. (C) By the partners individually in their profit-sharing ratio.
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1(B), (C), (A)
- 2(B), (A), (C)✓
- 3(A), (C), (B)
- 4(A), (B), (C)
Correct answer
(B), (A), (C)
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