Q508
The loan(s) advanced to the business by a partner, in the event of settlement of accounts under section 48 of the Indian Partnership Act, 1932, rank
A.
Above the claim of the partners on capital account
AnswerB.
Lower than the claims of the partners on capital account
C.
Equal to the claim of the partners on capital account
D.
Equal to the claim of the outside creditors
Answer: Option A
Solution
Answer: Option A
No explanation is given for this question Let's Discuss on Board