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What are the types of Business Operation in Accounting?
1.)service 2.)merchandising,/ trading 3.)manufacturing
How does merchandising businesses differ from service businesses when it comes to accounting?
A merchandising business sells products to customers, whereas a service business provides or sells services to customers. For example: A beauty salon is considered a service business because you are providing a service to the customers. in the case of a beauty salon, the service could be cutting hair, doing someones eyebrows, etc. A sports store such as Sports Mart is considered a merchandising business because you are selling products to customers. in this case the products could be shoes, hockey sticks, etc. Merchandising business has inventory.
What is the revenue account for a merchandising business?
Sales
What is Accounting for over-the-counter sales?
Over-the-counter indicates to me that this is a type of Merchandising business. The accounting is really Merchandising Accounting. Accounts such as Revenue, Cost of Goods Sold, Inventory, all come into play. Merchandising company's also use such things as FIFO or LIFO inventory to keep track of the merchandise they are selling. Some examples of a Merchandising Company is Wal-Mart, Fry's Electronics, Grocery Stores, Clothing Stores, etc. These companies purchase "Inventory" at whole-sale prices, mark up the price to Retail, sales the merchandise and make profit off the difference. Whole-Sale price would be the COGS (cost of goods sold).
The account that appears in the chart of accounts for a merchandising business but not for a service business?
Sales
What are the types of Business Operation in Accounting?
1.)service 2.)merchandising,/ trading 3.)manufacturing
Example of merchandising business?
example of merchandising business
Give example of merchandising business?
example of merchandising business
Is The Gap a service business - merchandising business group - or manufacturing business?
merchandising
Typical example of service business and merchandising business?
what are the some examples of merchandising business ?
How does merchandising businesses differ from service businesses when it comes to accounting?
A merchandising business sells products to customers, whereas a service business provides or sells services to customers. For example: A beauty salon is considered a service business because you are providing a service to the customers. in the case of a beauty salon, the service could be cutting hair, doing someones eyebrows, etc. A sports store such as Sports Mart is considered a merchandising business because you are selling products to customers. in this case the products could be shoes, hockey sticks, etc. Merchandising business has inventory.
Is gamestop a merchandising business?
yes
What is the need of accounting for business?
sir i have a question that.. why we need accounting in business or what is the need of accounting in business
Accounting is a service function?
within an organization that involves recording, analyzing, and reporting financial transactions and information. It helps in decision-making, monitoring financial performance, and ensuring compliance with regulations. Accounting provides valuable information for management, investors, and other stakeholders to make informed decisions and assess the financial health of the business.
What is the operating cycle of a merchandising business?
ambot
What is the revenue account for a merchandising business?
Sales
What is Accounting for over-the-counter sales?
Over-the-counter indicates to me that this is a type of Merchandising business. The accounting is really Merchandising Accounting. Accounts such as Revenue, Cost of Goods Sold, Inventory, all come into play. Merchandising company's also use such things as FIFO or LIFO inventory to keep track of the merchandise they are selling. Some examples of a Merchandising Company is Wal-Mart, Fry's Electronics, Grocery Stores, Clothing Stores, etc. These companies purchase "Inventory" at whole-sale prices, mark up the price to Retail, sales the merchandise and make profit off the difference. Whole-Sale price would be the COGS (cost of goods sold).
