A balance sheet of a sole proprietorship includes only the business assets and liabilities, not the personal assets of the owner.

Name: A balance sheet of a sole proprietorship includes only the business assets and liabilities, not the personal assets of the owner.
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A balance sheet for a sole proprietorship reflects only the business's financial position, excluding the owner's personal assets and liabilities, as the business is considered a separate entity for accounting purposes.

A Balance Sheet of a Sole Proprietorship Includes Only the Business