Which of the following is true of a partnership balance sheet?
A)Each partner's assets will be shown separately.
B)Each partner's liabilities will be shown separately.
C)Each partner's equity will be shown separately.
D)Each partner's assets,liabilities,and equity will be shown separately.

Question

Quizplus · Accepted Answer

A partnership balance sheet will show each partner's equity separately, but not their individual assets or liabilities. The assets and liabilities will be combined for the partnership as a whole.

Which of the Following Is True of a Partnership Balance