in case, the business is liquidated and declared as bankrupt,can we assume here that the business accounts fall to "0' Rs.
and the debt will b directly paid through the personal properties of the partners OR
first we deduct the amount we get by selling the Total assets of the Business from the amount of liabilities..and then we find the remaining debt which is to be paid from the personal properties of the partners..
first we deduct the amount we get by selling the Total assets of the Business from the amount of liabilities..and then we find the remaining debt which is to be paid from the personal properties of the partners..
secondly,what if one partner is unable to pay money..
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