The trader's capital in a single entry system is asce...
The trader's capital in a single entry system is ascertained by preparing
Gross profit
Statement of affairs
Suspense account
Appropriation account
Correct answer is B
A Statement of Affairs is a document detailing a company's assets and liabilities. Generally prepared by a liquidator or appointed professional during certain insolvency proceedings, the document is later registered at Companies House, where it becomes available for public view.
\(\begin{array}{c|c} & Baba & Tude\\ & N & N \\ \hline \text{Capital Accounts 1 Janu...
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