In case of dissolution, the assets are .

liquidated

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Solution

The correct option is A liquidated
When the firm itself is dissolving, the assets are no longer required and are hence liquidated or sold.

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Similar questions

___________________ account is prepared to find out the net effect of realisation on various assets and payment of various liabilities in case of dissolution of firm.

Q. On dissolution, all assets are transferred to realization account at ________.

Q. Select the most appropriate alternative from those given below :

In case of dissolution assets and liabilities are transferred to _____________A/c.
a) Bank A/c
b) Partner’s capital A/c
c) Realisation A/c
d) Partner’s current A/c

Q. account is prepared at the time of the dissolution of the firm at the time assets are sold.

At the time of dissolution, all the assets of the firm are transferred to Realisation Account at ___________ values.

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In case of dissolution, the assets are .

The correct option is A liquidatedWhen the firm itself is dissolving, the assets are no longer required and are hence liquidated or sold.

The correct option is A liquidated
When the firm itself is dissolving, the assets are no longer required and are hence liquidated or sold.