FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Question

How does reporting information for a merchandising company differ from financial reporting for a service organization?

Expert Solution
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Merchandising Company:

 

A merchandising company is a type of company that engages in the purchase and resla eof ohysical and tangible goods. Example: clothing, supermarkets.

 

Service Company:

 

A service company is a type of company that renders service to their customers which are intangible. Example: auditing, accounting.

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