What Is Characteristic of an Income Statement for a Service

question 234

Multiple Choice

What is characteristic of an income statement for a service or manufacturing firm?

• A)A manufacturing company will not have gross margin.
• B)The service company will have a finished goods inventory.
• C)A service company will have cost of goods sold.
• D)A manufacturing company's income statement will have gross margin.

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Definitions:

Positive Emotions

Feelings that are generally beneficial to the individual and characterized by satisfaction, happiness, fulfillment, and optimism.

Authentic Leaders

Individuals who lead with genuineness, transparency, and integrity, inspiring trust and respect from followers.

Broadens Thoughts

The process of expanding thinking patterns to include a wider range of perspectives and possibilities.

Transformational Leadership

A leadership approach that changes and elevates the aspirations and behaviors of followers through vision, inspiration, and support.