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In what order are the firm's assets applied to settle accounts after dissolution, according to Section 48 of the Partnership Act?a)Partners' capital, third-party debts, partners' advancesb)Third-party debts, partners' advances, partners' capitalc)Partners' advances, third-party debts, partners' capitald)Partners' capital, partners' advances, third-party debtsCorrect answer is option 'B'. Can you explain this answer? for B Com 2024 is part of B Com preparation. The Question and answers have been prepared according to the B Com exam syllabus. Information about In what order are the firm's assets applied to settle accounts after dissolution, according to Section 48 of the Partnership Act?a)Partners' capital, third-party debts, partners' advancesb)Third-party debts, partners' advances, partners' capitalc)Partners' advances, third-party debts, partners' capitald)Partners' capital, partners' advances, third-party debtsCorrect answer is option 'B'. Can you explain this answer? covers all topics & solutions for B Com 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for In what order are the firm's assets applied to settle accounts after dissolution, according to Section 48 of the Partnership Act?a)Partners' capital, third-party debts, partners' advancesb)Third-party debts, partners' advances, partners' capitalc)Partners' advances, third-party debts, partners' capitald)Partners' capital, partners' advances, third-party debtsCorrect answer is option 'B'. Can you explain this answer?.

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