Question

how does the income statement prepared for a company that sells goods (merchandiser) differ from that prepared for a service business?

Answer 1

The existence of inventory distinguishes a merchandising firm from a service-based one as their main distinction. Unlike service-based firms, which do not sell things to customers, retail enterprises do. This distinction must be reflected in the financial statements of the companies, including the income statements.

A company that buys products and then exchanges them, typically at a higher cost than they were bought, is known as a merchant.

A service enterprise is an organization that uses volunteers and their skills to further its social mission in a broad sense. It doesn't just recruit volunteers; it works with a volunteerism culture.

A company that buys products and then exchanges them, typically at a higher cost than they were bought, is known as a merchant.

A service enterprise is an organization that uses volunteers and their skills to further its social mission in a broad sense. It doesn't just recruit volunteers; it works with a volunteerism culture.

To know more about the merchandising firm visit here :

brainly.com/question/10914938

#SPJ4