At the time of dissolution of the firm, books of account of the firm are.........
Answer & explanation
Correct answer: option 1
The correct answer is option 1- Closed.
At the time of dissolution of the firm, the books of account of the firm are closed.
Dissolution of Partnership does not require the closure of books whereas in the case of dissolution of the firm the books of account of the firm are closed because the firm does not exist anymore.