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Commerce · Q1650

Accounting

Graduate and Post Graduate · Commerce · question 1650

Q1650

In case of dissolution of a firm, in which order the following creditors should be paid? 1. Creditors having floating charge on the assets of the firm 2. Remuneration of liquidator 3. Provident fund money payable to employees 4. Bank overdraft

A.
1, 2, 3, 4
B.
1, 3, 4, 2
Answer
C.
2, 3, 4, 1
D.
2, 3, 1, 4

Answer: Option B

Solution

Answer: Option B
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