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STATEMENT OF ASSETS, LIABILITIES AND NET WORTH AND DISCLOSURE OF BUSINESS INTERESTS, FINANCIAL CONNECTIONS AND RELATIVE/S IN THE GOVERNMENT Services of December 31, 2011(Required by R.A. Nos. 3019
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A statement of assets and liabilities is a financial document that provides information about an individual or entity's financial position at a specific point in time, detailing their assets (what they own) and liabilities (what they owe).
Public officials and employees, as well as certain individuals and entities as mandated by law, are required to file a statement of assets and liabilities.
The statement of assets and liabilities is typically filled out by listing all assets owned by the individual or entity, including cash, property, investments, and other valuables, and all liabilities owed, such as loans, mortgages, and credit card debt.
The purpose of a statement of assets and liabilities is to provide transparency and accountability regarding an individual or entity's financial position, helping to prevent corruption and conflicts of interest.
The statement of assets and liabilities typically requires detailed information on all assets owned, including their values, and all liabilities owed, including amounts and creditors.
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