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let me know the difference between statement of affairs and
balance sheet
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Answer Posted / pradnya
Balance sheet is of the specific date, whereas statement of
affairs can be prepared as and when transactions occured.
Balance sheet will give you summariseed data which you cant
get it from st. of affairs.
Balance Sheet is in the finalised form where as st. of
affairs is treated as the raw/ basic information.
| Is This Answer Correct ? | 2 Yes | 1 No |
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