Describe how manufacturing, merchandising and service-sector companies differ from one another?

Q: Why is manufacturing more complicated than merchandising business?

A: Financial Accounting: It is the process of recording the financial transactions of a business in…

Q: How do the income statements of a manufacturing firm and a service firm differ?

A: Manufacturing firm is the one which is involved in the production of the products whereas service…

Q: Which of the following is NOT a reason for companies to assign costs to products or services?

A: We know that objective of every business is to attain profitability  Now, Profit for business is =…

Q: 1. "The steps in the accounting cycle for a merchandising company are different from the accounting…

A: “Since you have asked multiple questions, we will solve the first question for you.  If you want a…

Q: Explain the difference between service company and manufacturing company.

A: Explain the difference between a service company and a manufacturing company.   Service Company:…

Q: provide an example of a function/operation that is a cost for a company

A: Cost accounting is the branch of accounting that inspects the cost structure of a business. This…

Q: Is it correct that managerial accounting mainly provides services for manufacturing organizations?…

A: The concept of managerial accounting is majorly used to analyzed costs incurred on the products but…

Q: Distinguish between manufacturing-, merchandising-, and service-sector companies?

A: Manufacturing companies are the  ones which procure raw materials and carry out manufacturing…

Q: Explain different costing and pricing methods to make business decisions.

A: Decision-making process: Decision making can be defined as the process of making choices through…

Q: What is the Cost Flows in a Manufacturing Company?

A: Cost flows allude to the way or course through which costs go through business.

Q: why service industry involve operating expenses and retail industry involve operating expenses and…

A: Service Industries include those companies which offers only services to other industries. Retail…

Q: How do service companies differ from manufacturing companies?

A: Company:   A company refers to an artificial judicial person created by a group of individuals who…

Q: What distinguishes a merchandising business from a service business?

A: Merchandising Company and Service Company: A merchandising company generates income by selling goods…

Q: Costing systems and investment centres are two types of business segments that are entirely…

A: The excess of revenues over expenses is defined as the net profits of the organization. he cost of…

Q: How is managerial accounting useful

A: Introduction: Accounting; Accounting is an art of recording, classifying,  summarizing and…

Q: How does the format of the income statement of a manufacturing entity differ from the income…

A: Statement of profit or loss is a statement which records revenue earned by the company during a…

Q: Why division of tasks or units of an organization benefits the company

A: Organisational structure is an outline of a company, which defines the role and responsibility of…

Q: What term describes all business processes associated with providing a product or service? O The…

A: A product is a tangible item that can be sold to the customers.  Service is an intangible item which…

Q: What are the difference between the cost of goods sold of manufacturing and service type businesses…

A: Introduction:

Q: What is the primary distinction between a service company and a manufacturing or merchandising…

A:

Q: How does reporting information for a merchandising company differ from financial reporting for a…

A: Merchandising Company:   A merchandising company is a type of company that engages in the purchase…

Q: How do manufacturing companies differ from merchandising companies?

A: Manufacturing Companies: Merchandiser is a person or organization who buys goods with the purpose of…

Q: In what way does a typical manufacturing business differ from a merchandising concern? in what ways…

A: Manufacturing business means when a company makes finished products by use of raw materials and then…

Q: Identify the correct statement with respect to manufacturing and merchandising companies in general…

A: A merchandising firm is one of the most common types of business. A sales firm is a business that…

Q: What is the chief difference between manufacturing and service industry firms?

A:

Q: (a) How are the components of revenues and expenses different for a merchandising company? (b)…

A: There are generally two types of business organisations-merchandising businesses which sale goods…

Q: What kinds of challenges occurs in the Cost Control and Cost Reduction in the Manufacturing…

A: Cost Control is different from cost reduction Cost Control focuses/emphasises on decreasing the…

Q: Why should accountants participate in product design

A: Product design is a process through which the designers of a company assist in designing of products…

Q: Who in the typical firm or organization is responsiblefor cost management?

A: Cost Management:   Cost management involves the development and use of cost management information…

Q: What factors explain the differences in company performance in the same industry?

A: For firms within the same business sector like Mcdonalds, Starbucks, burger king, etc in the…

Q: Difference between labour cost,cost of sales and selling price in informal and formal business

A: A formal business is a business that is well formalized and its goals are set and organized. Whereas…

Q: How would a business plan for a small manufacturing firm differ from one for a small retailing firm?…

A: A business plan is a document in writing that elaborates how a start-up company derives its…

Q: Explain the difference between a centralized company and a decentralized company.

A: The top management's approval is needed for all lower level actions, subjects and decisions in…

Q: What is the distinction between merchandising and manufacturing companies?

A:

Q: the differences between service business and merchandising business?

A: Merchandise business is a kind of business wherein revenues are earned by providing or selling goods…

Q: Why would a corporation choose process costing over task order costing? How are the two systems…

A: Here is the Answer

Q: the specific parts of a business plan will vary, depending on the goods or services the firm is…

A: A business plan is a document in writing that elaborates how a start-up company derives its…

Q: In the context of a real-life company, an identification and discussion of the different types of…

A: The question is related to Cost Accounting. Cost  is the amount of resource given up in exchange of…

Q: why service industry not involved production cost and retail industry involve in production cost?

A: In the method of Job costing a particular service is obtained by allocating costs to a distinct…

Q: Differentiate between selling price,cost of sales and labour costs in informal and formal business.

A: Registered (or unregistered), organized (or unorganized), and supervised (or unregulated) companies…

Q: Merchandising companies have financial statements that are more complex than manufacturing…

A: Merchandising companies are companies engaged in buying and selling goods. Manufacturing companies…

Q: What is the distinction between service and merchandisingcompanies?

A: Despite the fact that marketing organizations and administration organizations adjust to sound…