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What is the difference between partnership and sole proprietorship?

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Question added by ahmed elashry , Senior Accountant , شركة القنطرة العربية للديكور
Date Posted: 2013/11/05
Mohammed Salim Allana
by Mohammed Salim Allana , Compliance and Assurance Manager , United Arab Bank

It is the organisational framework of sole proprietor (single owner) or more than one partners and the accounting needs to be made as per the agreement between them. 

 

Maintain capital and personal accounts separately and distribute the profits as per the agreed sharing ratios

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