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:

Alveoli

Tiny air sacs in the lungs where gas exchange between the air and blood takes place.

Cohesive Forces

Attractive forces between similar molecules that hold a substance together, such as the attraction between water molecules.

Surface Tension

The elastic tendency of a fluid surface which makes it acquire the least surface area possible, acting like a stretched elastic membrane.

Tracheal Tubes

Tubes that make up part of the respiratory system in insects, allowing gas exchange directly with body cells.