When a partnership is dissolved piecemeal, and the following claims need to be met out of the cash realised, which is the correct sequence in which these claims have to be met?
(a) Any partner’s loan 

(b) Return capital and current account balances

(c) Expenses of dissolution 

(d) Outsider’s claims (payables and accruals)

Transcribed Image Text:

x a, b, d & c y z H c, d, a & b b, c, a & d