Ask Question
24 July, 14:33

Reporting changes in partnership capital accounts is similar to reporting changes for a. a limited liability trust. b. a corporate shareholder. c. a proprietorship. d. None of these choices are correct.

+4
Answers (1)
  1. 24 July, 17:34
    0
    C) a proprietorship.

    Explanation:

    Partnerships and sole proprietorships operate very similarly, specially because of how their owners are taxed. You must remember that reporting requirements are established or approved by the IRS, and since they are both pass-through entities they accounting and reporting procedures are similar.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Reporting changes in partnership capital accounts is similar to reporting changes for a. a limited liability trust. b. a corporate ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers