What is the difference between merchandising companies and service enterprises? a. The operations in merchandising companies and
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Question:
What is the difference between merchandising companies and service enterprises?
a. The operations in merchandising companies and service enterprises are identical.
b. Cost of goods sold is an expense for service enterprises but not for merchandising companies.
c. Merchandising companies must prepare multiple-step income statements and service enterprises must prepare single-step income statements.
d. Merchandising companies generally have a longer operating cycle than service enterprises.
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