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Propetorship

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(Querist)
26 January 2014 can 4 persons be a proprietors in a same business? and if yes , what will be the accounting proceedure ? rakesh b surve
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mehulmukati

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mehulmukati (Expert)
28 February 2014 No 4 people cannot a proprietors of the same business. By definition, proprietor is always "sole proprietor".

However 4 people can be owners of the same business as partners of a partnership firm.

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