The Accounting Procedures Are the Same for Sole Proprietorships as for Partnerships

question 85

Multiple Choice

The accounting procedures are the same for sole proprietorships as for partnerships with the exception of:

• A)the asset section includes more than one cash account.
• B)the liability section.
• C)the revenue section.
• D)the capital section is now divided per the number of partners.

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Definitions:

Metatarsals

The five long bones in the foot located between the ankle and toes, crucial for walking and movement.

Foramen

A natural opening or passage, especially in a bone, through which blood vessels, nerves, or ligaments may pass.

Fissure

A small tear in the lining of an organ, such as the skin or the lining of the anus.

Sinus

Cavities or air spaces within the bones of the skull and face that are connected to the nasal cavities, playing roles in respiration and the production of mucus.