Question

What factors should be considered when comparing the net income figure of a partnership to that of a comparison of a similer size

Answer 1

the factors that affect are :

1... the partnership has to shows there balance sheet to the all the parteners.... but in lower I.e. sole proprietor there is no need to show balance sheet to every one...

2... there is very less secrecy because discussion is between partners ... but in lower I.e. in sole proprietor there is very much secrecy ..