Affairs example sentences



A statement of affairs is prepared from incomplete records where most of the assets are recorded on the basis of estimates as compared to a balance sheet which is prepared from records maintained on the basis of double entry book-keeping and all assets and liabilities can be verified from the ledger accounts.Both statement of affairs and balance sheet show the assets and liabilities of a business entity on a particular date.You know that opening capital can be worked out by preparing the statement of affairs at the beginning of the year.As the change in the value of money is not reflected in the book of accounts, the accounting data does not reflect the true and fair view of the affairs of an enterprise.The Constitution sought to balance these competing claims by providing three lists of subjects: a Union List, with subjects such as taxes, defence and foreign affairs, which would be the exclusive responsibility of the Centre; a State List of subjects, such as education and health, which would be taken care of principally by the states; a Concurrent List, under which would come subjects such as forests and agriculture, in which the Centre and the states would have joint responsibility.Every religious group or sect is free to manage its religious affairs.Banks make detailed investigation of the company's affairs, financial structure etc.In practical life it means absence of interference in our affairs by others – be it other individuals or the government.In the various state systems of eighteenth-century India, the common people did not enjoy the right to participate in the affairs of their governments.Though statement of affairs resembles balance sheet, it is not called a balance sheet because the data is not wholly based on ledger balances.The king went up to the hermit and said, “I have come to you, wise hermit, to ask you to answer three questions: How can I learn to do the right thing at the right time? Who are the people I need most? And what affairs are the most important?” The hermit listened to the king, but did not speak.Therefore, they elect a Board of Directors as their representative to manage the affairs of the company.Such a statement is known as statement of affairs, shows assets on one side and the liabilities on the other just as in case of a balance sheet.The basic objective of these statements is to provide information required for decisionmaking by the management as well as other outsiders who are interested in the affairs of the undertaking.The regulatory bodies like SEBI, also mandates complete disclosures to be made by the companies, to give a true and fair view of profitability and the state of affairs.

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