The Jackston Company is to be liquidated as a result of bankruptcy. Until the liquidation occurs, on what basis are its assets reported? a. Present value calculated using an appropriate effective...

The Jackston Company is to be liquidated as a result of bankruptcy. Until the liquidation occurs, on what basis are its assets reported?
a. Present value calculated using an appropriate effective rate.
b. Net realizable value.
c. Historical cost.
d. Book value.