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Sole Proprietorship Account Fidelity Bank Ridge Towers-Ridge, Accra PMB 43, Cantonments, Accra Ghana T: +233 21 214490 F: +233 21 678868 www.fidelitybank.com.gh REQUIREMENTS FOR ACCOUNT OPENING SOLE
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What is sole proprietorship account?
A sole proprietorship account is a financial statement that records the business income, expenses, assets, and liabilities of a single individual who owns and operates a business.
Who is required to file sole proprietorship account?
Individual business owners who operate as sole proprietors are required to file a sole proprietorship account.
How to fill out sole proprietorship account?
To fill out a sole proprietorship account, the business owner needs to gather all financial records including income, expenses, assets, and liabilities, and accurately report them in the designated accounting forms.
What is the purpose of sole proprietorship account?
The purpose of a sole proprietorship account is to track the financial performance of the business, calculate taxable income, and provide insights into the financial health of the business.
What information must be reported on sole proprietorship account?
The information reported on a sole proprietorship account includes business income, expenses, assets, liabilities, and any other relevant financial data.
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