Payment Sequence Questions

Identify the correct sequence or order of application of assets including any sum contributed by the partners, in case of dissolution of partnership firm to make up deficiencies of capital. A. In paying each partner proportionately what is due to him from the firm for advances distinguished from capitalB. In paying to each partner proportionately what is due to him on account of capitalC. In paying the debts of the firm to the third partiesD. The residue, if any, shall be divided among the partners in their profit sharing ratio Choose the correct answer from the options given below: