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Write the Word / Term / Phrase Which Can Substitute the Following Statement. - Book Keeping and Accountancy

One Word Answer

Write the word / term / phrase which can substitute the following Statement.
A statement similar to Balance Sheet prepared to ascertain the amount of closing capital.

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Solution

Closing Statement of Affairs
Explanation: The amount of closing capital is calculated by preparing a Closing Statement of Affairs by deducting the total closing liabilities from the total closing assets.

Concept: Preparation of Statements for Single Entry System
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