In case of sole proprietor and partnership do we still prepare b/s and p/l a/c in horizontal format - Accountancy - Financial Statements of a Company

Question

In case of sole proprietor and partnership do we still prepare b/s
and p/l a/c in horizontal format?

Neha Chopra · Accepted Answer

Dear Student

As there is no specified format for balance sheet and profit and
loss account for small traders and proprietors or partnership firm,
They can prepare it anyway for their use There is no restriction on
it
However as the horizontal way is very easier as compared to
Vertical, People often use this way only

Regards

In case of sole proprietor and partnership do we still prepare b/s and p/l a/c in horizontal format?