WAEC Accounting 2013 Objective — Question 44
Question 44 of 50 from the West African Examinations Council (WAEC) Accounting 2013 Objective paper, with the correct answer and a full explanation.
Advertisement
Upon the dissolution of a partnership business, the party to be settled first out of the proceeds realized is
- A. unsecured creditorsCorrect
- B. partners' loan and advances
- C. secured creditors
- D. partners' capital
Explanation
In dissolution of any business, the first set of people to be settled are the unsecured creditors.
Advertisement
Sign up free to unlock
- Score tracking
- Practice history
- Saved questions
- Progress dashboard
- Personalized sessions
- Weak-topic breakdown
…and/or go further with premium services and No Ads.