A Major Difference Between the Income Statements of a Merchandising

question 195

Short Answer

A major difference between the income statements of a merchandising company and a manufacturing company is that the cost of goods sold section of a merchandising company shows cost of goods______________ whereas a manufacturing company shows cost of goods ______________.

---

Definitions:

Dred Scott Case

A landmark Supreme Court decision in 1857 that ruled African Americans could not be American citizens and that Congress could not prohibit slavery in U.S. territories.

President Buchanan

James Buchanan, the 15th President of the United States (1857-1861), whose administration immediately preceded the American Civil War.

Executive Power

The authority held by the executive branch of a government, responsible for implementing and enforcing laws and policies.

Trans-Continental Railroad

A railway system extending across a continent; in the U.S., it primarily refers to the railroad that linked the East and West coasts in 1869.