The principal difference between the income statements of a merchandising company's and a manufacturing company is theO revenue section.O cost of goods sold section.O operating income section.O operating expense section.

The manufacturing company are the company that manufacture the product and result they are the one…

Answered: O revenue section. O cost of goods sold…

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O revenue section. O cost of goods sold section. O operating income section. O operating expense section. A

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter2: Building Blocks Of Managerial Accounting

Section: Chapter Questions

Problem 2Q: Explain how the income statement of a manufacturing company differs from the income statement of a...

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Basic Accounting Terms

Accounting terms are accounting terminology, accounting jargon, accounting acronyms, and accounting vocabulary that are commonly used to understand accounting fundamentals. It would be difficult for anyone to read, understand, and interpret the company's financial statements if they did not understand and know the meaning of the basic accounting terms.

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The principal difference between the income statements of a merchandising company's and a manufacturing company is the
O revenue section.
O cost of goods sold section.
O operating income section.
O operating expense section.

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Which of the following represents the components of the income statement for a merchandising business? A. Sales Revenue - Cost of Goods Sold = gross profit B. Service Revenue - Operating Expenses = gross profit C. Sales Revenue - Cost of Goods Manufactured = gross profit D. Service Revenue - Cost of Goods Purchased = gross profit
Which of the following represents the components of the income statement for a service business Sales Revenue - Cost of Goods Sold = gross profit Service Revenue - Operating Expenses = operating income Sales Revenue - Cost of Goods Manufactured = gross profit Service Revenue - Cost of Goods Purchased = gross profit
Explain how the income statement of a manufacturing company differs from the income statement of a merchandising company.
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3. The subtotal, "Cost of goods manufactured" appears on a merchandising company's income statement. b. a manufacturing company's income statement. e. both a manufacturing and a merchandising company's income statement. d. neither a merchandising nor a manufacturing company's income statement.
Which of the following represents the components of the income statement for a merchandising business? a.Service Revenue – Operating Expenses = gross profit b.Sales Revenue – Cost of Goods Sold = gross profit c.Service Revenue – Cost of Goods Purchased = gross profit d.Sales Revenue – Cost of Goods Manufactured = gross profit