Match the Following Business Types with Each Business Listed Below

question 30

Multiple Choice

Match the following business types with each business listed below. Each may be used more than once.
-A modular homebuilder

• A)Service business
• B)Manufacturing business
• C)Merchandising business

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Definitions:

Net Operating Income

A measure of a company's profitability, calculated by subtracting operating expenses from operating revenue, excluding taxes and interest.

Raw Materials Account

An account used to track the cost of raw materials not yet used in production in a company's inventory.

Ending Balance

The amount of money remaining in an account at the conclusion of a time period, after all additions and subtractions have been accounted for.

Work in Process Account

An account used in the manufacturing process to track the costs associated with production that is not yet completed, including labor, materials, and overhead.