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प्रश्न
What is a statement of affairs?
टिप्पणी लिखिए
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उत्तर
A statement of affairs is a statement showing the balances of assets and liabilities on a particular date. The balance of assets is shown on the right side and the balance of liabilities on the left side. This statement resembles a balance sheet. The difference between the total of assets and the total of liabilities is taken as capital.
Capital = Assets – Liabilities.
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