The primary purpose of the Statement of Affairs is to approximate the estimated amount available to each class of claims.

Question

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The Statement of Affairs is a document that provides an estimate of the assets and liabilities of a company at a given date. It is used to approximate the amount available to each class of claims, such as secured and unsecured creditors, shareholders, and other stakeholders. Therefore, the primary purpose of the Statement of Affairs is to provide a fair distribution of the company's assets among its various claimants.

The Primary Purpose of the Statement of Affairs Is to Approximate