what is sale revenue in retail industry? what is service revenue in service industry? what is liability in service and retail industry? what is equity in service and retail industry?

Q: When a merchandising business is compared to a service business, the financialstatement thatis…

A: Merchandising business: It is a set of activities we do to sell our product and services to the…

Q: Are there significant distinctions between conducting adjustment and closing for a service firm and…

A: Service Industry Service industry mainly focus on the providing services to the customers and the…

Q: What distinguishes a retail business with the services business?

A: Retail business and Service business are two types of business, in which one provides goods for use…

Q: What  are business transactions called that increase owner’s equity as a result of providing a…

A: A liability is amount payable or obligation which results from past event, whose payment needs…

Q: what makes credit important to the business?

A: Credit can be the amount of money a business can borrow or can be termed as the ability of that…

Q: What is the revenue account for a merchandising business called? Group of answer choices gross…

A: Solution: Merchandise business is a type of trading business that involves purchase and sales of…

Q: A profit-seeking commercial company that deals with money and credit?

A: The question is based on concept of nature of primary business. Primary nature of business describes…

Q: What are the types of Businesses according to Nature and differentiate each?

A: Solution Concept Types of business                 There are various types of business ,such as…

Q: What is profit, how is it earned? Explain its effect on businesses.

A: The income statement is prepared to find net income or losses incurred during the period. This is a…

Q: w will accounting affect the stability of a business?”

A: Step 1 Accounting is important in running a company because it enables entity  to monitor revenue…

Q: Explain the Financial Status for Businesses?

A: Financial status  It indicates the income level under which categorization of business is done for…

Q: How is accounting for service businesses different than accounting for merchandising businesses?

A: Services business: A business that provide services to its customers is called service business.…

Q: What is a buy and sell business?

A: The Solution is given in the next step

Q: Which resource providers lend financial resources to a business with the expectation of repayment…

A: SOLUTION- BUSINESS BORROW MONEY FROM CREDITORS , AND REPAY THE AMOUNT BORROW , PLUS AN ADDITIONAL…

Q: What are the ways that payments by a seller to a customer is done?

A: Accounting is primarily concerned with identifying, recording, measuring, summarizing transactions…

Q: What are the benefits of credit management brings on the economic aspect of a company?

A: Hi There, Thanks for posting the questions. As per our Q&A guidelines, must be answered only one…

Q: What is the business name of the vendor (seller)? How do you know this? (using the image)

A: Here in this question, we are required to answer the name of seller. Seller is the person who sells…

Q: comparison equity and revenue between service and retail industry

A: Definition: Service businesses: Service companies involve in selling services, collecting cash for…

Q: Discuss the methods of financing of retail business and the manner in which it will be raised.

A: Customers purchase things or services from retail firms for consumption, usage, or for their…

Q: Which of the accounting controls ensure that a company's resources are used efficiently and…

A: Controls are the procedures which are designed and monitored by the management to ensure that the…

Q: Required: Do you think that the role of Accounting is very important in a Merchandise business? If…

A: The business that are engaged in the sale of products are known are merchandise business. The main…

Q: What precisely distinguishes accounting from business admin

A: Accounting: It is the process of recording any financial transactions incurred in the financial year…

Q: How does net income affect the operation of the business?

A: The bottom line of income statement is net income. It’s the outcome of sales and gains minus the…

Q: The importance of research on accountancy and business

A: Accounting is the process of recording the monetary transactions and prepare the financial…

Q: What type of asset does a merchandiser have that a service provider does not? Why is it important…

A: Merchandising companies will have an asset for inventory, whereas service companies do not. This is…

Q: What criteria determine whether a company can recognize revenue over time?

A: Revenue is recognized over time if one of the following conditions is met: The customer…

Q: Liabilities Are things of value used by the business in its operation. O a. b. Are future economic…

A: Comment - We’ll answer the first question since the exact one wasn’t specified. Please submit a new…

Q: Under what conditions should a company disclose the amount of sales from a major customer?

A: Sales: A sale refers to a transaction that take place between two parties where a buyer receives…

Q: 2. Which Asset account/s appears in the Statement of Financial Position of a merchandising Business…

A: "Since you have asked multiple questions, we will solve only first question for you. If you want any…

Q: t is business law

A: Business Law: Business law is also referred to as mercantile law or the commercial law. It refers to…

Q: Whats P&G's accounting policy related to advertising? whats accounting principle does P&G…

A: Procter & Gamble, commonly known as P&G is an Amercian multinational consumers good…

Q: what is an Income derived from the sale of goods or services in the normal course of business

A: In accounting terminology income is a part part of revenue. Revenue is the gross inflow of cash ,…

Q: When is revenue recognized by service provider? By a merchandiser? By a manufacturer? Differentiate…

A: We’ll answer the first question since the exact one wasn’t specified. Please submit a new question…

Q: Ways on how the law of sales and negotiable instrument can be applied in daily lives.

A: The financial position of the company can be arrived from the income statement prepared by the…

Q: What is the role of businesses?

A: The process by which financial transactions of the business are recorded and communicated with the…

Q: What are the differences between accounting for service companies and accounting for merchandise…

A: The Answer :

Q: st page of the chapter. 2. Which of the following would result in the recognition of revenue? a. A…

A: Revenue : Revenue is the income generated from normal business operations. In other words it is the…

Q: what kinds of issues or considerations would you address in the part of the business plan that deals…

A: Business plans are the written documents prepared by the management of a corporation that describes…

Q: Which of the following information items with regard to a major customer must be disclosed?a. The…

A:

Q: What is meant by the term fresh start accounting ?

A: Fresh start accounting: After emerging from the Bankruptcy business adopts a fresh start.

Q: Essay - cite sources: Besides earning a profit, what other objectives might a business have? How…

A: Profitable businesses sometimes go under because they don't remain competitive or advance with the…

Q: Which of the following information items with regard to a major customer must be disclosed? a. The…

A: According to the disclosures requirements , if a company is making sales to major customer , then…