Question

The deficiency shown by deficiency account will be equal to the deficiency revealed by​

Answer 1

It will be revealed by the Statement of Affairs.

• The statement of affairs accurately depicts the insolvent's financial situation as of the specific date of the adjudication decision.
• Whilst the deficiency account outlines how the apparent deficiency in the Statement of Affairs came about.
• This statement depicts the debtor's financial condition at a certain point in time. As a result, the account's deficit is the same as the one revealed by a declaration of affairs.

Answer 2

Answer:

Statement of Affairs

Explanation:

It will be revealed by the Statement of Affairs. As a result, the account's deficit is the same as the one revealed by a declaration of affairs.