The work sheet for a merchandising business is
A) exactly the same as for a service business.
B) very different from that for a service business.
C) slightly different from that for a service business.
D) much shorter than that for a service business.
E) much longer than that for a service business.

Question

Quizplus · Accepted Answer

The worksheet for a merchandising business is slightly different from that for a service business because merchandising businesses need to account for the cost of goods sold, while service businesses do not have this expense. However, many of the other elements on the worksheet, such as revenues, expenses, and net income, are the same for both types of businesses.

The Work Sheet for a Merchandising Business Is