Partnership Accounting

question 37

Multiple Choice

Partnership accounting:

• A) Is the same as accounting for a sole proprietorship.
• B) Is the same as accounting for a corporation.
• C) Is the same as accounting for a sole proprietorship,except that separate capital and withdrawal accounts are kept for each partner.
• D) Is the same as accounting for a not-for profit organization.
• E) None of these answers is correct.

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