The main difference between the income statements of a merchandising and a service type business is:A) the period covered by the statements.the manner by which the revenues are presented.the manner by which expenses are presented.D the computation of net profit.

SOLUTION EXPLANATION - A MERCHANDISING COMPANY ENGAGED IN PURCHASE AND RESALE OF TANGIBLE GOODS.…

The main difference between the income statements of a merchandising and a service type business is: A the period covered by the statements. B) the manner by which the revenues are presented. the manner by which expenses are presented. D the computation of net profit.

The main difference between the income statements of a merchandising and a service type business is: A the period covered by the statements. B) the manner by which the revenues are presented. the manner by which expenses are presented. D the computation of net profit.

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter2: Building Blocks Of Managerial Accounting

Section: Chapter Questions

Problem 6MC: Which of the following represents the components of the income statement for a merchandising...

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Question

The main difference between the income statements of a merchandising and a service type business is:
A) the period covered by the statements.
the manner by which the revenues are presented.
the manner by which expenses are presented.
D the computation of net profit.

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