Under the UPA, Which of the Following Liabilities of a Partnership

question 35

Multiple Choice

Under the UPA, which of the following liabilities of a partnership has the highest priority for payment out of partnership assets? Amounts owing to:

• A) partners for profits.
• B) partners for loans or advances.
• C) creditors other than partners.
• D) partners for capital.

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Definitions:

Fovea

A tiny pit located in the macula of the retina that provides the clearest vision of all by having a high concentration of cones and no rods.

Color Vision

The ability of the visual system to distinguish objects based on the wavelengths of the light they reflect or emit.

Dark Adaptation

The method through which eyes enhance their ability to perceive dimly lit environments.

Rods

Photoreceptor cells in the retina of the eye that are sensitive to low levels of light and are primarily responsible for night vision.