The Balance Sheet of a manufacturing firm will include which account that will not be included in the Balance Sheet of a service firm?

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Work in Process Inventory is an account specific to manufacturing firms, as it represents the cost of partially completed goods that are in the process of being manufactured. Service firms do not have work in process inventory, since they do not produce tangible goods. Purchases, accounts payable, and prepaid wages are all accounts that may appear on the balance sheets of both manufacturing and service firms.

The Balance Sheet of a Manufacturing Firm Will Include Which