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Strategies for Professional Growth · Quiz 2 · 16 Aug 2026 · May 2026 term

Question 14: During the voluntary liquidation of assets, the liquidat…

Question 14

+1 markOne correct option

During the voluntary liquidation of assets, the liquidator sells all assets at fair market value and uses the proceeds to pay off all short-term and long-term liabilities owed to creditors. Which accounting metric represents the residual interest in the assets that rightfully belongs to the equity claims of the business owners?

  1. A

    Net Income

  2. B

    Gross Profit

  3. C

    Owner's Equity

  4. D

    Operating Cash Flow

Show answer

Correct answer

  • C

    Owner's Equity

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Question 14 of 15 in the IIT Madras BS Strategies for Professional Growth (SPG) Quiz 2 paper sat on 16 Aug 2026, in the May 2026 term (Strategies For Professional Growth 16 Aug 26). It carries 1 mark.

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