The Key Difference Between a Partnership Balance Sheet and a Standard

question 47

Multiple Choice

The key difference between a partnership balance sheet and a standard business balance sheet is that the partnership balance sheet:

• A)shows the division of each asset into partners' respective interests.
• B)shows a separate retained earnings amount for each partner.
• C)shows each partner's capital account as a separate item.
• D)includes ordinary shares but not Share capital in excess of par.

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