Upon the dissolution of a partnership, the Partnership Act provides that the amount realized should...
FINANCIAL
JAMB 2002
Upon the dissolution of a partnership, the Partnership Act provides that the amount realized should be?
- A. used to pay all taxes due to government
- B. used to start a new partnership business by members who are willing
- C. shared equally by the existing partners
- D. used in paying the debts and liabilities of the firm to persons who are not partners
Correct Answer: D. used in paying the debts and liabilities of the firm to persons who are not partners
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