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Q: Does a service company earns net income by buying and selling merchandise?
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Is Buying or selling using an account a credit transaction true or false?

True


What is the difference between journal and transaction?

A journal is the same thing as a diary or a log of events. A transaction typically refers to the buying and selling of goods.


If you sell merchandise on eBay do you need or have to pay any taxes?

If you are selling your own surplus personal possessions then generally you will not need to pay taxes on the money although this will vary from country to country and from state to state so, if in any doubt whatsoever, you should always contact the relevant local Revenue authorities to check the situation applicable to you.If you are buying in goods with the intention of selling them on, as merchandise suggests, then you are trading and will almost certainly need to declare the income to your local Tax Authority.Whether you will need to pay any tax on the income depends on your own personal circumstances (e.g., how much money you make from your sales, whether you have any other sources of income, what allowances your Revenue services applies, etc, etc.) so if in any doubt whatsoever, check with them.


Would invoice factoring be helpful for a small business?

Possibly but it would depend on several factors such as wether they are purchasing or selling invoices. If they are selling how badly do they need the capital against how much loss in revenue. If they are buying they will have to decide how much spare capital they have and how much risk they are willing to take.


Should a non profit charge sales tax it sells in a church?

It depends what you really mean. It all boils down to whom is doing the BUYING. If it is the church BUYING, then they are not charged tax because they are a non-profit organization. If someone else is buying who is not a non-profit organization (a for-profit organization or an individual) than they have to pay sales tax. It does not matter that the church is doing the selling (or that you are doing the selling on church grounds) what matters is whether the person or organization buying the goods is tax exempt (non-profit) or not. Note that the church or any other retailer or seller needs to charge tax on behaf of the state and they are required to give the tax money to the state.

Related questions

What is retail selling and retail buying?

This is the buying of merchandise (wholesale) and resell (Retail).


What is difference between ordering and buying retail merchandise?

The difference between ordering and buying is In ordering you obtains the delivery service from the shop to your destination and in case of Buying you don't use delivery services offered by the company.


What is a commerce?

Commerce can be defined as buying and and selling and exchanging of goods and service or it is the study of buying of goods and service


What is e tailing fraud?

Etailing Fraud is involving both illegally buying and selling merchandise on the net


Is apple buying Twitter?

No. Twitter is not looking at selling the company at this time.


What does Blundells specialize in?

Blundells is a company that specializes in offering estate agents. They assist people in buying, selling, and renting out their homes or apartments and offer their service to many locations.


What does Hamilton Buy and Sell do?

Hamilton Buy and Sell is an Austrailian company which offers a "middleman" service for buying, trading, and selling a variety of products. This company only operates in Victoria, Austrailia and does not appear open to expansion.


What makes a full-service broker full service?

Full-service brokers provide advice in addition to buying and selling stocks


Can you explain what short selling stocks are?

In purchasing stocks, you buy a piece of ownership in the company. The buying and selling of stocks can occur with a stock broker or directly from the company.


What service does Direct Rewards provide?

Direct Rewards is a Canadian company that provide computer services such as fixing, selling, buying old computers, and many other computer related services.


What makes a full-service broker a full-service broker?

Full-service brokers provide advice in addition to buying and selling stocks


What is a trading market?

a public gathering held for buying and selling merchandise.