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Balance sheet

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bsai partish

166 Points Posted on 31 October 2020

while preparing balance sheet of sole proprietor heading should be in his name or in his business name?

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Quick Summary

When preparing a balance sheet for a sole proprietorship, the key question is whether to use the owner's personal name or the business name. The consensus is that the balance sheet should be prepared under the name of the business itself. This ensures clarity and proper representation of the business's financial standing.