Sole proprietorships are reflected on the expenditure schedule as follows: a. Income and expenses are shown along

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Sole proprietorships are reflected on the expenditure schedule as follows:

a. Income and expenses are shown along with changes in assets and liabilities.

b. Income and expenses are shown along with balances in the assets and liabilities.

c. Changes in assets and liabilities are shown, but income and expenses are not shown

d. Income and expenses are shown, but assets and liabilities are not shown

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