« previous next »

Author Question: Which of the following is not a difference between a retail business and a service business? a. in ... (Read 118 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?

Aspirin is the most widely used drug in the world. It has even been recognized as such by the Guinness Book of World Records.

Did you know?

Amphetamine poisoning can cause intravascular coagulation, circulatory collapse, rhabdomyolysis, ischemic colitis, acute psychosis, hyperthermia, respiratory distress syndrome, and pericarditis.

Did you know?

The B-complex vitamins and vitamin C are not stored in the body and must be replaced each day.

Did you know?

The U.S. Pharmacopeia Medication Errors Reporting Program states that approximately 50% of all medication errors involve insulin.

Did you know?

It is widely believed that giving a daily oral dose of aspirin to heart attack patients improves their chances of survival because the aspirin blocks the formation of new blood clots.

A typical open-end wrench. Note the size difference on each end and that the head is angled 15 ... A typical open-end wrench. Note the size difference on each end and that the head is angled 15 ...
Business Letter Format and Example. Business Letter Format and Example.
Do not interact with a service dog unless you have permission from its owner. Do not interact with a service dog unless you have permission from its owner.
International Business: The Challenges of Globalization, 8th Edition International Business: The Challenges of Globalization, 8th Edition
An electron is accelerated from rest through a potential difference of 3750 V. It enters a ... An electron is accelerated from rest through a potential difference of 3750 V. It enters a ...
Business Math Business Math
Video: Major Elements in Biological Molecules: Carbohydrates

For a complete list of videos, visit our video library