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What's the differences between company accounts and partnership accounts?

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Question added by adrine ainembabazi
Date Posted: 2015/09/27
kayode Iyanda
by kayode Iyanda , Logistic Officer , Powercell Limited

Accounting for partnerships and corporations involves the same basic steps. Both must track revenue and expenses, file payroll reports if they have employees, account for inventory, pay property taxes and comply with any safety or environmental regulations that apply. The two critical differences between partnership and corporate accounting involve income taxes and equity account

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