Which statement is not false, in respect of the dissolution of a part…

The correct answer is Option (1) → A partner took an unrecorded asset, it will be shown the credit side of realization account

The Realisation Account is credited with whatever the firm gets for its assets, whether in cash or by a partner taking an asset over. An unrecorded asset was never in the books, but when a partner takes it, the firm still gains its value: the partner's capital account is debited and the Realisation Account credited.

Option (2) A partner takes an unrecorded asset, it will be shown the credit side of partners capital account — A false statement. The partner receives the asset, so his capital account is debited.

Option (3) A partner took a recorded liability, it will be shown the credit side of realization account — A false statement. A liability taken over by a partner is a payment on the firm's behalf: Realisation is debited and the partner's capital credited.

Option (4) A partner took an unrecorded liability, it will be shown the credit side of realization account — A false statement. Settling any liability, recorded or not, is a debit to the Realisation Account.