Which of the following is true with respect to the liquidation of a partnership?
Select one:
a. It is uncommon to assume that no cash will be realized from the sale of assets
b. All of these are true
c. Liquidation expenses will not limit the amount of cash that can be safely distributed
d. There may be unreported liabilities that were not properly accrued as of the balance sheet date. The liquidation administrator must, therefore, be conservative in estimating the amount of cash that can be safely disbursed.