Arrange the following in a sequence, in which they will be utilize for the payment of losses:(A) Out of capital of partners.(B) Out of profits.(C) By the partners individually in their profit sharing ratio.Choose the correct answer from the options given below:

According to Section 48(a) of the Indian Partnership Act, 1932, when a firm handles accumulated or operational losses (including deficiencies of capital), it must offset them using a strict, statutory order:First, losses are paid out of current or accumulated profits (B).If profits are exhausted, they are paid out of the capital contributions of the partners (A).If capital is still insufficient to cover the remaining balance, the deficit is funded by the partners individually out of their personal assets in their agreed profit-sharing ratio (C).Therefore, the proper statutory order is (B), (A), (C).