The Financial Statements of a Merchandising Company Will Show

question 186

Multiple Choice

The financial statements of a merchandising company will show:

• A) the same accounts as the financial statements of a service company.
• B) gross profit after net income on the income statement.
• C) inventory as a current asset on the balance sheet.
• D) cost of goods sold as an operating expense on the income statement.

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Definitions:

Oligodendrocyte

A type of glial cell in the central nervous system that produces myelin, a substance that insulates nerve fibers to enhance signal transmission.

Myelin Sheath

A layer of protective insulation that covers nerve fibers, enhancing the speed and efficiency of electrical signal transmission along the nervous system.

CNS

Central Nervous System, comprised of the brain and spinal cord, responsible for processing and coordinating sensory information and motor commands.

PNS

Stands for Peripheral Nervous System, which includes all the nerves outside of the brain and spinal cord.