There are three accounting issues where there are some differences between partnerships and proprietorships. Which one of the following is not a difference?
A) private partnerships may follow ASPE
B) formation of a partnership
C) preparing partnership financial statements
D) dividing the partnership profit and loss

Question

Quizplus · Accepted Answer

Private partnerships may follow ASPE, which is also applicable to proprietorships, so it is not a difference between the two.

There Are Three Accounting Issues Where There Are Some Differences