Upon the dissolution of partnership business, the party t...
Upon the dissolution of partnership business, the party to be settled first out of the proceeds realized is
Unsecured creditors
Partner's loan and advances
Secured creditors
Partner's capital
Correct answer is C
A secured creditor is generally a bank or other asset-based lender that holds a fixed or floating charge over a business asset or assets. When a business becomes insolvent, sale of the specific asset over which security is held provides repayment for this category of creditor.
The production cost of a manufacturing firm is made up of ...
The method of ascertaining capital from income record is by preparing the ...
Use the following information to answer the given question. \(\begin{array}{c|c} \text{Net prof...
The excess of cost of goods sold over net sales is ...
Given: PTF Trial Balance [Extract] as at 31 December, 1999 Dr Cr N'000 N '000 Ca...
The cash bass of accounting requires the recognition of revenue only when they are ...
Which of the following does a consignee prepare and send to his consignor? ...