| Correct order of payment. |
| I. Unsecured creditors |
| II. Any surplus, among the contributories |
| III. Liquidation expenses |
| IV. Preferential creditors |
| V. Secured creditors |
A) 1, 2, 3, 4, 5
B) 4, 3, 2, 1, 5
C) 3, 5, 4, 1, 2
D) 5, 3, 2, 1, 4
Correct Answer: C
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