Question

What is Statement of Affairs?​

Answer 1

Answer:

The statement of affairs is a summary of a company 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.

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Answer 2

Answer:

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Explanation:

the statement of affairs are a summary of all the assets and liabilities that a company has. it also shows the amount of equity , and is usually formed when a company  is declaring to be insolvent/bankrupt.

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