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DP
Question Practice

If a partner's private debts exist alongside firm debts, which debts are settled first?

Attempt the question, check the explanation, and continue with similar questions to build confidence before exams.

MCQ_SA
CBSE
Class 12
Accountancy
Accountancy Part - I
Dissolution of Partnership Firm
Question Bank

If a partner's private debts e...

Single Answer MCQ
Q-00082351

If a partner's private debts exist alongside firm debts, which debts are settled first?

1

Firm's debts

2

Partner's private debts

3

Equal priority

4

Neither

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Q1.

What is the meaning of dissolution of partnership firm?

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Q2.

Differentiate between dissolution of partnership and dissolution of partnership firm.

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Q3.

Describe the various modes of dissolution of a partnership firm.

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Q4.

Explain the rules relating to the settlement of claims among all partners during dissolution.

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