Question

At the time of dissolution of the firm, at which stage the balance of the partner's capital accounts is paid?

Options

• After making the payment to third party's loans.

• Before making the payment of partners in respect of their loans.

• After making the payment to third party for their loans as well as partners in respect of their loans.

• None of the above

Answer 1

After making the payment to third party for their loans as well as partners in respect of their loans.