Sole proprietorship are reflected on the tax expenditure schedule as follows: a. Income and expenses are not

Question:

Sole proprietorship are reflected on the tax expenditure schedule as follows:

a. Income and expenses are not recognized, but changes in assets and liabilities are shown.

b. Income is not recognized, but expenses are recognized, changes in assets and liabilities are

recognized.

c. Income and expenses are recognized, but changes in assets and liabilities are not recognized.

d. Income, expenses, and changes in assets and liabilities are not recognized.

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