How many of these are areas where there are major differences in accounting treatment by sole traders and partnerships and accounting treatment by companies?
$\bullet$Distributions to owners
$\bullet$Accumulation of profits
$\bullet$Accounting for income tax
$\bullet$Accounting for equity
$\bullet$Accounting for GST
$\bullet$Accounting for inventory
A) 3
B) 4
C) 5
D) 6

Question

Quizplus · Accepted Answer

There are major differences in accounting treatment for distributions to owners, accumulation of profits, accounting for income tax, and accounting for equity between sole traders/partnerships and companies. Accounting for GST and inventory have similar treatments for both types of entities. Therefore, the answer is 4 (B).

How Many of These Are Areas Where There Are Major ∙\bullet∙

How Many of These Are Areas Where There Are Major $\bullet$