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What happens to the assets and liabilities during the dissolution of a firm?a)Assets are distributed among partners, and liabilities are ignoredb)Assets are sold, and liabilities are paid offc)Assets are transferred to a new firm, and liabilities are carried overd)Assets are donated, and liabilities are settled by a courtCorrect answer is option 'B'. Can you explain this answer? for B Com 2024 is part of B Com preparation. The Question and answers have been prepared according to the B Com exam syllabus. Information about What happens to the assets and liabilities during the dissolution of a firm?a)Assets are distributed among partners, and liabilities are ignoredb)Assets are sold, and liabilities are paid offc)Assets are transferred to a new firm, and liabilities are carried overd)Assets are donated, and liabilities are settled by a courtCorrect answer is option 'B'. Can you explain this answer? covers all topics & solutions for B Com 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for What happens to the assets and liabilities during the dissolution of a firm?a)Assets are distributed among partners, and liabilities are ignoredb)Assets are sold, and liabilities are paid offc)Assets are transferred to a new firm, and liabilities are carried overd)Assets are donated, and liabilities are settled by a courtCorrect answer is option 'B'. Can you explain this answer?.

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