The following sections discuss the differences and similarities of the accounts for business profitability. There are three main categories of organisations by a sole trader, partnership and limited company is a business entity that is owned by one person, they tend to be a small and is common in the retail and service industry to agriculture. Often, the owner is a legitimate business manager and owners do not exclude. Business account view as a separate legal entity, but that must be accounted for separately from its owners. These are shown in the table below.