Under the UPA,________ must be paid first when liquidated assets of a partnership are distributed.

Question

Quizplus · Accepted Answer

A)According to UPA,distribution of liquidated assets must take the following order:
1.Payment to creditors of the partnership.
2.Payment of refunds or loans to partners for loans made to the firm.
3.Payment to partners of the capital they invested.
4.Payment of profits distributed to partners on the basis of the partnership agreement.
B)According to UPA,distribution of liquidated assets must take the following order:
1.Payment to creditors of the partnership.
2.Payment of refunds or loans to partners for loans made to the firm.
3.Payment to partners of the capital they invested.
4.Payment of profits distributed to partners on the basis of the partnership agreement.
C)According to UPA,distribution of liquidated assets must take the following order:
1.Payment to creditors of the partnership.
2.Payment of refunds or loans to partners for loans made to the firm.
3.Payment to partners of the capital they invested.
4.Payment of profits distributed to partners on the basis of the partnership agreement.
D)According to UPA,distribution of liquidated assets must take the following order:
1.Payment to creditors of the partnership.
2.Payment of refunds or loans to partners for loans made to the firm.
3.Payment to partners of the capital they invested.
4.Payment of profits distributed to partners on the basis of the partnership agreement.
E)According to UPA,distribution of liquidated assets must take the following order:

Under the UPA,________ Must Be Paid First When Liquidated Assets