Which One of the Following Is Not a Difference Between

question 160

Multiple Choice

Which one of the following is not a difference between a retail business and a service business?

• A) in what is sold
• B) the inclusion of gross profit in the income statement
• C) accounting equation
• D) merchandise inventory included in the balance sheet

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Definitions:

Exporting

The activity of selling goods or services produced in one country to buyers in other countries.

Foreign Markets

Markets outside the domestic boundaries of a company's home country where it conducts business activities.

Domestically Produced

Goods or services that are manufactured, grown, or created within a country's borders, as opposed to imported from other countries.

Performance Management

The process through which managers ensure that employees' activities and outputs contribute to the organization's goals.