Answer:
Merchandise inventory appears on the balance sheet of a service company.
Explanation:
A service company sells services, not goods. Services are intangible, therefore they cannot be stored, so there cannot exist an inventory of unused services.
Merchandise inventory includes the goods that a business owns and will try to sell, and buying and selling them is part of the business's normal activities. The cost of the goods included in the merchandise inventory may include freight costs and packaging costs, depending on what type of product they are selling. Merchandise inventory is a current asset account.
Alexander Maconochie initiated the concept of Good time.
Answer:
Using the gross profit method, the cost of goods sold would be:
$42,500
Explanation:
Gross margin ratio of the company is 15%. Refer the formula:
Gross margin = Gross profit/Revenue (or net sales)
= (Net sales- Cost of good sold)/Net sales
Using the gross profit method and from the formula,
Cost of good sold = Net sales - Net sales x Gross margin
= Net sales x (1 - Gross margin)
= $50,000 x (1-0.15) = $50,000 x 0.85 = $42,500
It is "False" that a trademark is an exclusive right granted to its owner to publish and sell a musical, literary, or artistic work during the life of the creator plus 70 years.
<h3>
What do you mean by Trademark?</h3>
A trademark is a type of intellectual property consisting of a recognizable sign, design, or expression which identifies products or services of a particular source from those of others,
Copyright to create works such as literary books, music albums, films, animated media, and so on.
Copyrights protect creative or intellectual works, and trademarks apply to commercial names, phrases, and logos.
Learn more about Trademark, refer to the link:
brainly.com/question/14578580
#SPJ1
Answer:
options-based planning.
Explanation:
Options-based planning is a strategy that guards against failure. The business makes small Investments in several alternative plans. It considers what could go wrong in business operations and plans alternative measures to mitigate total failure.
Woolplanknis an apparel company, and to protect against failure they invested in 5 sheep farms. This year they are planning to nlbuy the most profitable sheep farm. They are using options based planning.
