« previous next »

Author Question: Which of the following is not a difference between a retail business and a service business? a. in ... (Read 72 times)

tsand2

  • Hero Member
  • *****
  • Posts: 520
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

  • Sr. Member
  • ****
  • Posts: 323
Reply #1 on: Jul 5, 2018
Answer to Question 1

c

Answer to Question 2

C


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Medications that are definitely not safe to take when breastfeeding include radioactive drugs, antimetabolites, some cancer (chemotherapy) agents, bromocriptine, ergotamine, methotrexate, and cyclosporine.

Did you know?

Pubic lice (crabs) are usually spread through sexual contact. You cannot catch them by using a public toilet.

Did you know?

Patients should never assume they are being given the appropriate drugs. They should make sure they know which drugs are being prescribed, and always double-check that the drugs received match the prescription.

Did you know?

This year, an estimated 1.4 million Americans will have a new or recurrent heart attack.

Did you know?

Approximately one in four people diagnosed with diabetes will develop foot problems. Of these, about one-third will require lower extremity amputation.

The Two-Step Persuasion Technique to Encourage Community Service The Two-Step Persuasion Technique to Encourage Community Service
The malfunction indicator lamp might be labeled “service engine soon,” which can cause ... The malfunction indicator lamp might be labeled “service engine soon,” which can cause ...
Difference-Between-Carbohydrates-and-Lipids-infographic Difference-Between-Carbohydrates-and-Lipids-infographic
Sensitivity study for facial difference Sensitivity study for facial difference
Difference of Squares Difference of Squares
When operating your own business, it is wise to know your cost of capital and that of the ... When operating your own business, it is wise to know your cost of capital and that of the ...
Video: Enzyme-Catalyzed Reactions

For a complete list of videos, visit our video library