Accountancy, asked by PragyaTbia, 1 year ago

The Capital balances are ascertained by preparing ________. (Fill in the blank by choosing correct option)
(a) Statement of affairs
(b) Cash Account
(c) Drawing account
(d) Debtors Account

Answers

Answered by Anonymous

I THINK....

C IS THE ANSWER

Answered by MotiSani

Answer:

The correct answer to the given question is option (a) statement of affairs.

Explanation:

Statement of affairs is an important document relating to the process of insolvency of a company or firm. This document helps in assessing the overall assets and liabilities of a company.

Generally, this document is formed by a liquidator or an appointed professional, especially for this work. After the insolvency of a company takes place this document is made publically available.

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