Which of the following is the primary source of revenue for a merchandising business?A. the production of products from raw materialsB. the purchase and resale of finished productsC. the provision of intangible goods and servicesD. the sale of raw materials to manufacturing firms

Q: What is the revenue account for a merchandising business called? Group of answer choices gross…

A: Solution: Merchandise business is a type of trading business that involves purchase and sales of…

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 of the following is classified as a general expense? U A) Depreciation costs of showroom O B)…

A: General expenses are different from selling and distribution expenses A) Depreciation costs of…

Q: Explain how business activities and inventories for a manufacturing company, a merchandising…

A: Manufacturing company:   Manufacturing companies produce their own goods and sell it to the…

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: Which of the following is not a name for a specific type ofinventory?a. Finished goods. c. Raw…

A:

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

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

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: From the following list of Value Chain activities, identify the order in which these activiites…

A: The value chain activities consists of the steps that are incurred in order to deliver a valuable…

Q: A manufacturing company's income statement and balance sheet vary from a merchandising company's…

A: The income statement and balance sheet of a manufacturing firm are different from a retailing…

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: Which of the following is the primary source of revenue for a service business?A. the production of…

A: A service business seems to be a firm that offers professional services to its customers. The…

Q: How do the components of revenues and expenses differ between merchandising and service companies?…

A: Based on your given data, there is no given drop down but here is the general information about the…

Q: What are the top two major differences between the manufacturing industry and merchandising…

A: The manufacturing industry is a sector of the economy that is focused on producing goods from raw…

Q: For a manufacturing business, products that are in the process of being manufactured are referred to…

A: Work-in-Process Inventory:-These are those inventory that is partially completed in the production…

Q: How does a manufacturing company calculate the cost of goods sold? How is this different from a…

A:

Q: Two categories of expenses for merchandising companies are

A: Option d

Q: How does reporting information for a merchandising company differ from financial reporting for a…

A: Merchandising Company:   A merchandising company is a type of company that engages in the purchase…

Q: Explain Operating Cycle of a Typical Merchandising or Manufacturing Company.

A: Operating cycle: The operating cycle is the period of time which is required to meet the initial…

Q: Identify and explain the additional accounts that the merchandising company likely to use as…

A: A service company is a business that generates income by providing services instead of selling…