Upon the dissolution of partnership business, the party t...
Upon the dissolution of partnership business, the party to be settled first out of the proceeds realized is
Unsecured creditors
Partner's loan and advances
Secured creditors
Partner's capital
Correct answer is C
A secured creditor is generally a bank or other asset-based lender that holds a fixed or floating charge over a business asset or assets. When a business becomes insolvent, sale of the specific asset over which security is held provides repayment for this category of creditor.
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