What Is the Main Difference Between the Financial Statements Prepared

question 17

Multiple Choice

What is the main difference between the financial statements prepared for a sole proprietorship and those prepared for a company?

• A)the number of statements that must be prepared.
• B)the detail in the reports.
• C)sole proprietorship's reports are always prepared at the end of December.
• D)companies do not have to prepare a cash flow statement.

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Definitions:

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The relative social, professional, or other standing of someone or something.

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