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State Whether the following Statement is True or False: On dissolution of a firm, Partner's loans have to be paid before any payment is made to any of the partners as capital.

State Whether the following Statement is True or False:

On dissolution of a firm, Partner's loans have to be paid before any payment is made to any of the partners as capital.

True or False

This statement is true.

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Chapter 5: Dissolution of a Partnership Firm - OBJECTIVE TYPE QUESTIONS [Page 5.98]

Chapter 5 Dissolution of a Partnership Firm
OBJECTIVE TYPE QUESTIONS | Q (A) 7. | Page 5.98

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