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

question 23

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 has separate capital sections for each partner.

---

Definitions:

Intent

Intent refers to the purpose or mindset with which an action is done, highlighting the deliberate nature of the act.

Nonverbal Communication

The process of conveying information without the use of spoken words, through body language, facial expressions, gestures, and other physical cues.

PERCEIVE

To become aware of or comprehend something through the senses or by using insight.

Political Skill

The ability to effectively understand others at work and to use such knowledge to influence others to act in ways that enhance one’s personal or organizational objectives.