An accounting question
(a)" The steps in the accounting cycle for a merchandising company are different from the accounting cycle for a service enterprise." Do you agree or disagree?" (b) Is the ,easurement of net income for a merchandise conceptually the same for a service enterprise? Explain.
Please answer in English. No need to translate in Chinese. Or please tell me where I can find the references for this question. Thanks a million~
- Anonymous1 decade agoFavorite Answer
I agree, the steps in the accounting cycle for merchandising company and service enterprise are different. Accounting cycle for a merchandising company includes steps such as inventory ordering and inventory acquisition; whereas, for a service enterprise generally steps relating to acquiring inventory are not necessary. The measurement of net income for merchandising companies and service enterprises are also different. When measuring the net income for a merchandising company, it requires an extra step of subtracting cost of goods sold from the total revenue.
- Anonymous1 decade ago
- PatLv 61 decade ago
給 ☆↙華碩愛看熱鬧者↘★￡ , 人家是在問問題,不是叫你翻譯成中文, ok?