A Statement similar to Balance Sheet prepared to ascertain the amount of closing capital. Answer in a word / phrase / term.
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STATEMENT OF AFFAIRS.....
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Answer:
A statement of affairs.
Explanation:
Statement of affairs is used to show various Assets and liabilities of a business on a particular date. There are basically two types of statement of affairs:
1) opening statement of affairs
2) closing statement of affairs
An opening statement of affairs includes the opening Assets and liabilities of a company where as a closing statement of affairs includes the closing Assets and liabilities of a company.
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