plz answer this commerce question..class 11...financial statements of sole proprietorship...best answer will be mar ked as brainliest...:)
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sole proprietorships, partnerships, limited liability companies and corporations. A sole proprietorship is a business owned by one person. Many small service enterprises, retail stores and professional practices are operated as proprietorships. The owner is the legal owner of its assets, is legally liable for its debts and is entitled to all the earnings of the proprietorship. From an accounting standpoint, however, the business is treated as a separate entity from its owner.
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