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P2 C10 Accounts from Incomplete Records — Account STD 11 Commerce — Question

Gujarat BoardEnglish MediumSTD 11 CommerceAccountP2 C10 Accounts from Incomplete Records1 Mark
Question
What is statement of affairs ?
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Answer

Statement of affair is like balance sheet, on left side liabilities and payables are shownand assets and receivables are shown on the right side. After having deduction of alldebts (excluding capital) from the total assets side, the arised difference is known ascapital

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