Proprietorships and partnerships:
A) have the same equity accounts as a corporation.
B) identify paid-in capital and common stock separately.
C) use a single heading for their equity account called Capital.
D) do not have equity accounts.

Question

Quizplus · Accepted Answer

Proprietorships and partnerships typically use a single heading for their equity account called Capital, which includes all the contributed and earned equity. They do not differentiate between paid-in capital and common stock like corporations do.

Proprietorships and Partnerships