A statement of partner's equity is the same as a statement of owner's equity except:
A) there is a capital account for each partner.
B) net income is assigned to one partner.
C) no additional investment by partners is shown on the statement.
D) There is no difference in the statements.

Question

Quizplus · Accepted Answer

A statement of partner's equity differs from a statement of owner's equity primarily because there is a separate capital account for each partner in a partnership, reflecting each partner's share of the equity.

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