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Author Question: Which of the following is not a difference between a retail business and a service business? a. in ... (Read 120 times)

tsand2

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on: Jul 5, 2018
Which of the following is not a difference between a retail business and a service business?
 a. in what is sold
  b. the inclusion of gross profit on the income statement
  c. accounting equation
  d. merchandise inventory included on the balance sheet

Question 2

Expenses are reported on the income statement when the related revenue is recognized. This is the ________ principle.
 
  A) historical-cost
  B) full-disclosure
  C) matching
  D) revenue recognition


tandmlomax84

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Reply #1 on: Jul 5, 2018
Answer to Question 1

c

Answer to Question 2

C


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