statement of affairs
Definition of statement of affairs
: a statement for a financially embarrassed enterprise showing assets at book and realizable values and claims of creditors classified as preferred, secured, partly secured, and unsecured for the purpose of indicating probable amounts available to creditors in case of liquidation
Love words? You must — there are over 200,000 words in our free online dictionary, but you are looking for one that’s only in the Merriam-Webster Unabridged Dictionary.
Join MWU now and get access to America’s largest dictionary, with:
- 300,000 words that aren't in our free dictionary
- Expanded definitions, etymologies, and usage notes
- Advanced search features
- Ad free!
Seen and Heard
What made you want to look up statement of affairs? Please tell us where you read or heard it (including the quote, if possible).