Question on: JAMB Accounting - 2023
Which of the following is prepared to ascertain the trader\'s capital under incomplete records?
A
statement of affairs
B
statement of capital and liabilites
C
statement of complete records
D
income statement
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Correct Option: A
The statement of affairs is prepared to ascertain the trader's capital under incomplete records. It lists the assets and liabilities of the business to determine the owner's equity or capital.
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