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Comparing the equity accounts for a corporation with the equity accounts of a sole proprietorship, which of the following statements is false? Group of answer
Comparing the equity accounts for a corporation with the equity accounts of a sole proprietorship, which of the following statements is false? Group of answer choices All 4 types of activities that affect equity are closed into Retained Earnings The Withdrawals account for a sole proprietorship is functionally the same as the Dividends account for a corporation Revenues, expenses, and either withdrawals (for a sole proprietorship), or dividends (for a corporation) are closed at the end of the fiscal year. After closing entries, all 4 types of transactions that affect equity are reflected in the Capital account
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