Consider the following parties:
i. Secured creditors
ii. Unsecured creditors
iii. Partners who have granted loans
iv. Partners who have contributed over and above profit sharing ratio
Arrange them in correct sequence in the event of dissolution of a firm.

i i, i, i i i, i v

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i, i i, i i i, i v

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i, i i, i v, i i i

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i i, i, i v, i i i

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Solution

The correct option is B $i, i i, i i i, i v$
Secured creditors are often banks and other asset based lenders. They have preferential right over asset. so they are paid first. Unsecured creditors include trade creditors,suppliers. They are paid from the asset left after paying to secured creditors. After paying to all the outside parties partners are paid. Loan granted by partners are paid next because loan is a charge on profit. In last partners who have contributed over and above profit sharing ratio are paid.

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Consider the following parties:i. Secured creditorsii. Unsecured creditorsiii. Partners who have granted loansiv. Partners who have contributed over and above profit sharing ratioArrange them in correct sequence in the event of dissolution of a firm.

Consider the following parties:
i. Secured creditors
ii. Unsecured creditors
iii. Partners who have granted loans
iv. Partners who have contributed over and above profit sharing ratio
Arrange them in correct sequence in the event of dissolution of a firm.