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

question 62

Multiple Choice

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

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

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Definitions:

Gender Gap

The disparities between men and women in various aspects of life, including but not limited to social, political, intellectual, cultural, or economic attainments or attitudes.

Mathematical Abilities

The capability to perform mathematical processes and understand mathematical concepts.

Socially Influenced

Refers to how individuals' thoughts, feelings, and behaviors are affected by social interactions and the presence of others.

Environmental Influences

External factors such as culture, weather, and pollution that impact an individual's behavior, development, and health.