Multiple Choice
What is a difference between merchandising companies and service enterprises?
A) Merchandising companies must prepare multiple-step income statements and service enterprises must prepare single-step income statements.
B) Merchandising companies generally have a longer operating cycle than service enterprises.
C) Cost of goods sold is an expense for service enterprises but not for merchandising companies.
D) All are these choices are differences.
Correct Answer:
Verified
Correct Answer:
Verified
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