I understand that assets is in plural form but not sure about the following sentences:-
The bulk of its assets were tied in property
or
The bulk of its assets was tie in property.
I understand that assets is in plural form but not sure about the following sentences:-
The bulk of its assets were tied in property
or
The bulk of its assets was tie in property.
I don't think there are hard and fast rules here. However, I think most native language speakers would make a distinction based on whether 'bulk' was explicitly referring to a count noun or a mass noun.
Typical count nouns: dolls, houses, people Typical mass nouns: butter, information, music
When I was at the department store I saw dozens of toy cars. The bulk of them were red.
When I was at the festival I heard a lot of music. The bulk of it was awful.
In the first sentence, 'was' is possible, but in my estimate, MUCH less likely, especially in speech:
When I was at the department store I saw dozens of toy cars. The bulk of them was red.
Compare
The majority of the population was/were happy.
The majority of the figurines were broken.
I tried to fit this sentence the way subject-verb agreement is described here.
Do you use a singular or plural verb to match a collective noun such as team or staff? The answer is, It depends. If these nouns are acting as a unit, use a singular verb.
Also, I could not find collective noun taking its or form the like on Wikipedia page and even on the list of collective nouns at several places.
I guess in the case of collective nouns the pronoun its shouldn't be there here. Clearly, it's talking about the bulk which is singular and hence would take was in my opinion.