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.... show more (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~
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