Question

what is a statement of affairs in accounts​

Answer 1

Explanation:

Statement of Affairs. A statement of affairs is a financial statement similar to the balance sheet that includes assets and liabilities. ... This shows the changes in assets and liabilities over the course of the period. Recall that accounting is conducted in a double-entry system.

please follow me.

please mark as brainlist

Answer 2

The Statement of Affair is a summary of a Comapny's assets and liabilities. It states the net book value and amount expected to realise at the date of Insolvency of the business. Accompanying the balance sheet is a list of creditors and shareholders....

I hope it helps you