EBK AUDITING+ASSURANCE SERVICES
EBK AUDITING+ASSURANCE SERVICES
17th Edition
ISBN: 9780135171219
Author: ARENS
Publisher: PEARSON CO
Question
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Chapter 7, Problem 36DQP

a.

To determine

Explain the conclusion that is shown from the given information about the company’s future.

b.

To determine

List the additional information that is helpful in assessment of C Company’s financial condition.

c.

To determine

Comment on the aspects of the company that should receive special emphasis in the audit based on the preceding ratios.

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? ? Financial accounting question
The income statement of a merchandising company includes Cost of Goods Sold (COGS) and gross profit, which are not found on a service company’s income statement. This is because merchandising companies sell physical products, while service companies provide intangible services. Service company income statements are simpler, usually showing revenue from services minus operating expenses like salaries, rent, and supplies. In short, the main difference is that merchandising firms track product costs and gross profit, while service companies do not. Respond to this post. agree or disagree
Please give me true answer this financial accounting question
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