Which of the following accounts will only be found in the chart of accounts of a merchandising company?

Name: Which of the following accounts will only be found in the chart of accounts of a merchandising company?
Brand: Quizplus
Rating: 5.0 (50 reviews)

Question

Quizplus · Accepted Answer

Inventory is a specific account that is necessary for a merchandising company because it represents the goods that are being held for sale. The other accounts listed (Sales, Accounts Receivable, and Accounts Payable) could also be found in the chart of accounts of a service company.

Which of the Following Accounts Will Only Be Found in the Chart