Question: Pl explain both questions I will definitely rate... The typical accounting cycle for a merchandising firm is generally longer than for a service firm because

  • Pl explain both questions I will definitely rate...
  • The typical accounting cycle for a merchandising firm is generally longer than for a service firm because of the additional closing entries required. (a) True (b) False.
  • Companies with large amounts of fixed costs will generally have high operating leverage. (a) True (b) False.

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