How statement of affairs is differ from balance sheet: - Vidyadip

MCQ

How statement of affairs is differ from balance sheet:

✓
As it is maintained under double entry system.
B
As it is prepared to ascertain capital amount at a certain point of time.
C
Does not prove the arithmetical accuracy.
D
Based on incomplete records and estimates.

✓

Answer

Correct option: A.

As it is maintained under double entry system.

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