- 05/19/2019 at 6:03 am #900493EduGorillaKeymasterSelect Question Language :
How a Company’s balance sheet is different from the balance sheet of partnership firm?
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A company‘s Balance Sheet format is fixed under schedule III .Whereas, there is no standard form prescribed under the Indian partnership Act,1932 for a partnership Firm’s balance sheet.
In case of a company‘s Balance sheet previous year‘s figures are required to be given whereas it is not so in the case of a partnership firm’s balance sheet.
For company‘s Balance Sheet and partnership balance sheet format is fixed under schedule III.
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