How is accounting for a partnership different from accounting for a corporation?

how is accounting for a partnership different from accounting for a corporation?
gabriellaavet
Asked Jan 26, 2010

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Partnership deed is a document holding an agreement that describe the rights and duties of each partner joining partnership business.
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connorgilroy
Answered May 18, 2016
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Utah
Answered Sep 15, 2016
The major difference between partnership and corporate accounting is income tax and equity accounts. Also, it differs in their structure, corporate being more complex and including more people in the decision-making process. Also, both are different in Liability, startup costs, management. Whenever you are thinking to start a business it is very necessary to understand the difference between them. For example, if you are applying for accountant jobs then firstly read all the major benefits that you can get by getting a job as an accountant.
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khushboo
Answered Sep 25, 2017

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