As per Section 48 of the Indian Partnership Act, 1932, which of the following sources will be systematically utilized, and in what sequence, to pay off firm losses, including capital deficiencies?(A) Out of accumulated Profits(B) Out of the Capital of Partners(C) By partners individually in their profit-sharing ratio(D) Out of Creditors' Personal AssetsChoose the correct answer from the options given below:

Section 48(a) of the Indian Partnership Act, 1932, states that losses, including deficiencies of capital, must be paid in the following order:First, out of the firm's accumulated Profits.Next, out of the partners' Capital.Finally, if a deficiency still remains, it must be paid by the partners individually in the proportion in which they are entitled to share profits (reflecting their unlimited liability).Creditors' personal assets cannot be seized by the firm to clear its internal capital deficiencies. Therefore, only statements (A), (B), and (C) are correct.