Examlex
Which of the following appears in the income statement of a merchandising business,but not in the income statement of a business that renders only services?
Governing Authority
The organization, body, or individual that has the power to make and enforce rules, laws, and regulations within a specified jurisdiction.
Organized Society
A structured group of individuals governed by established laws, norms, and institutions.
Business Law
The branch of law that deals with the rights, relations, and conduct of persons and businesses engaged in commerce, merchandising, trade, and sales.
Enforceable Rules
Regulations or directives that can be legally imposed or executed by a governing authority.
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