Deficiency or surplus account in the liquidation of a company is called

Here is a brief explanation of each option:

• List-C: This is the correct answer. A liquidation account is a financial statement that shows the assets, liabilities, and equity of a company that is in the process of being dissolved.
• List-D: This is not the correct answer. A statement of affairs is a financial statement that shows the assets, liabilities, and equity of a company at a specific point in time.
• List-G: This is not the correct answer. A profit and loss account is a financial statement that shows the revenues, expenses, and net income of a company for a specific period of time.
• List-H: This is not the correct answer. A balance sheet is a financial statement that shows the assets, liabilities, and equity of a company at a specific point in time.