- A Person Owning there own business
- Only one Capital's Account
- Your Responsible for everything that is involved with that business that you own.
- If the business that you are running fails, the sole owner is responsible for handling all the liabilities owed.
- An eight column journal for recording transactions.
Partnership
- Business in which two or more persons combine thier assets and skills.
- Members are called partner.
- You must agree on how each partner will share the business's profit or loss.
- Must share Capital
2 comments:
LOOOOSSSERRR!!!!!!!!!!
idle threats
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