Which one of the following would appear on the income statement of both a merchandising company and a service company?
A)Gross profit
B)Profit
C)Sales revenues
D)Cost of goods sold

Name: Which one of the following would appear on the income statement of both a merchandising company and a service company? A)Gross profit B)Profit C)Sales revenues D)Cost of goods sold
Brand: Quizplus
Rating: 4.9 (37 reviews)

Question

Quizplus · Accepted Answer

Both merchandising and service companies report profit on their income statements, which is the net result of revenues minus expenses.

Which One of the Following Would Appear on the Income