A Statement of Partner's Equity Is the Same as a Statement

question 52

Multiple Choice

A statement of partner's equity is the same as a statement of owner's equity except for:

• A)there is a capital account for all partners.
• B)net income is assigned to one partner.
• C)no additional investment by partners are shown on the statement.
• D)There is no difference in the statements.

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Definitions:

Communication Technology

Tools and platforms used to facilitate exchange of information and communication, including digital and telecommunication devices.

Electronic Communications

The transmission of information using electronic technologies, including email, social media, and messaging services.

Social Media

Websites and applications that enable users to create and share content or to participate in social networking.

Business Communication

The sharing of information between people within and outside an organization for commercial benefits.