A sole proprietorship is an accounting entity,even though it has only a single owner.

Name: A sole proprietorship is an accounting entity,even though it has only a single owner.
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A sole proprietorship is considered a separate accounting entity from its owner, even though it is not a separate legal entity. This means that the owner's personal finances and the business's finances are kept separate and must be reported separately for accounting purposes.

A Sole Proprietorship Is an Accounting Entity,even Though It Has