1) “Ferrari auto services” an automotive repair business owned by Mr. Amir, an experienced auto mechanic. (2) “Rainbow graphics” a graphic art designing consulting partnership firm owned by Mr. Adnan and Mr. Sami (3) The “Xen Ltd” a manufacturing concern operating for last ten year in the region.
They gave us question about entity actually above three entity are different to each other 1. sole proprietorship, 2. partnership, 3. company. these are three types of entity and also being treat different in accounting. 1. It follow the singal entry system, 2. partnership account, 3. company account
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