(1) In a book of account, there shall be entered transactions and other particulars having effects on assets of the business.
(2) A merchant shall, at the time of commencement of business and thereafter on a set date, at least once a year, prepare a balance sheet based on the books of account and the preparer shall write his/her name and affix his/her seal, or affix his/her signature, thereon, whereas a company shall prepare such balance sheet in the same manner as a merchant at the time of its establishment and at the end of each period for the settlement of accounts. <Amended by Act No. 5053, Dec. 29, 1995>[This Article Wholly Amended by Act No. 3724, Apr. 10, 1984]