What distinguishes partnership from the sole proprietorship?

Posting of journal

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Presence of more than one owner

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Owner expectation from the business

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Preparation of trial balance

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Solution

The correct option is B
Presence of more than one owner

Presence of more than one owner distinguishes partnership from the sole proprietorship.

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Similar questions

What do owners expect as returns for blocking their money in the business?

The fact that a business is separate and distinguishable from its owner is in accordance with which concept?

In sole proprietorship, the owner takes all decisions and is in full control of the business.

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