Question

At the time of firm’s dissolution, if realised value of intangible asset is not given, the realised value will be taken as ______.

Options

• Book Value

• Market Value

• Nil

• None of these.

Answer 1

At the time of firm’s dissolution, if realised value of intangible asset is not given, the realised value will be taken as nil.

Explanation:

During the dissolution of a partnership firm, if the question is completely silent about the realisation of an intangible asset (such as Goodwill, Patents, Trademarks, or Copyrights), its realised value is legally assumed to be zero (Nil). This is because intangible assets generally do not hold any scrap or resale value unless specifically mentioned or sold in the market.