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At the time of dissolution of a firm, every partners or his representative is entitled to have the ________ applied in payment of the debts and liabilities of the firm: 
  • a)
    Assets of the firm 
  • b)
    Property of the firm 
  • c)
    Liability of the firm 
  • d)
    Good will of the firm
Correct answer is option 'B'. Can you explain this answer?
Verified Answer
At the time of dissolution of a firm, every partners or his representa...
 A partnership firm is not a person and therefore a firm can not enter into partnership with any firm or individual. ... Company: A company is a juristic person and therefore can become a partner in a partnership firm, if it is authorized to do so by its objects.
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At the time of dissolution of a firm, every partners or his representative is entitled to have the ________ applied in payment of the debts and liabilities of the firm:a)Assets of the firmb)Property of the firmc)Liability of the firmd)Good will of the firmCorrect answer is option 'B'. Can you explain this answer?
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At the time of dissolution of a firm, every partners or his representative is entitled to have the ________ applied in payment of the debts and liabilities of the firm:a)Assets of the firmb)Property of the firmc)Liability of the firmd)Good will of the firmCorrect answer is option 'B'. Can you explain this answer? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about At the time of dissolution of a firm, every partners or his representative is entitled to have the ________ applied in payment of the debts and liabilities of the firm:a)Assets of the firmb)Property of the firmc)Liability of the firmd)Good will of the firmCorrect answer is option 'B'. Can you explain this answer? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for At the time of dissolution of a firm, every partners or his representative is entitled to have the ________ applied in payment of the debts and liabilities of the firm:a)Assets of the firmb)Property of the firmc)Liability of the firmd)Good will of the firmCorrect answer is option 'B'. Can you explain this answer?.
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