If a company specializes in either retail or manufacturing (for example), but also sells clothing under its brand name, whould the sale of clothing be considered a reportable segment?

Q: Are there significant distinctions between conducting adjustment and closing for a service firm and…

A: Service Industry Service industry mainly focus on the providing services to the customers and the…

Q: What are the Source documents used in a merchandising business?

A: Merchandising business is the one in which the entity deals in with goods / products.

Q: Which type of company would report merchandise inventory as a line item on their balance sheet?…

A: Inventory: It can be defined as all the goods, items, materials, and merchandise that are held by a…

Q: "Do the steps in the accounting cycle for a merchandising company differs from the steps in the…

A: Accounting cycle is a process to identify, analyse and record the monetary transactions of a firm.…

Q: How is accounting for service businesses different than accounting for merchandising businesses?

A: Services business: A business that provide services to its customers is called service business.…

Q: How do the activities of manufacturers, merchandisers, and service businesses diffe

A: Solution- Business is any activity undertaken to earn profit. There can be three basic types of…

Q: Explain the difference(s) between a Retail operating cycle and that of Service operating cycle. Your…

A: Operating cycle refers to the average duration of time which is needed by a business to make an…

Q: Distinguish between manufacturing-, merchandising-, and service-sector companies?

A: Manufacturing companies are the  ones which procure raw materials and carry out manufacturing…

Q: What are the key differences in performing adjusting and  closing for a service company, versus a…

A: The key difference: Since service companies will not have inventory, so there no adjustment required…

Q: Companies that buy and sell goods are called: O a. merchandising businesses. O b. service providers.…

A: Inventory: It can be defined as all the goods, items, materials, and merchandise that are held by a…

Q: According to International Financial Reporting Standards (IFRS), which of the following is a key…

A: Recognizing revenue accurately is a fundamental aspect of accounting, ensuring financial statements…

Q: Explain the differences in managerial and financial accounting for a clothing retailer.  Please…

A: The management accounting is generally created for a firm's internal audience, whereas financial…

Q: Is The Company Under Armour a merchandiser or a manufacturer? Please answer it in depth.

A: The company Under Armour is primarily a manufacturer. Under Armour designs, develops, manufactures,…

Q: finished goods inventory is ordinarily held for sale by a manufacturing company. True or False?

A: Inventory is an asset that generates economic resources for the entity through its sale or…

Q: the differences between service business and merchandising business?

A: Merchandise business is a kind of business wherein revenues are earned by providing or selling goods…

Q: What are the differences between accounting for service companies and accounting for merchandise…

A: The Answer :

Q: What is Sales Mix and why is it used in retail operations?

A: Cost accounting is a branch of accounting that involves the identification, measurement, analysis,…

Q: What is the purpose of Target Profit and why is it used in the Retail industry?

A: Targeted profit is the amount of profit that business executives expect to receive at the end of the…