The accounting procedures are the same for sole proprietorships as for partnerships with the exception of:

A) the asset section includes more than one cash account.
B) the liability section.
C) the revenue section.
D) the capital section has separate capital sections for each partner.

Capital Section

Part of a company’s balance sheet that details the funding provided by owners and investors, including paid-in capital and retained earnings.

Revenue Section

Part of the income statement that details the amounts earned from normal business operations, excluding expenses to calculate gross profit.

Asset Section

Part of a balance sheet that lists a company's assets, including current and non-current (or long-term) assets.