Liabilities tend to be the debts and obligations owed by the corporate. Income is The cash the business normally takes in. Expenses are hard cash from the organization to buy merchandise, such as salaries and utilities. Equity will be the remaining worth just after liabilities.
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A sole proprietorship is a company owned and operated by one man or woman. The proprietor is responsible for all debts and obligations with the small business, plus the enterprise has no lawful existence different within the proprietor
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