ACC 290 Week 3 participation Financial Accounting, Ch. 5: Merchandising Operations and the M

ACC 290 Week 3 participation Financial Accounting, Ch. 5: Merchandising Operations and the M

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 ACC 290 Week 3 participation Financial Accounting, Ch. 5: Merchandising Operations and the Multiple-Step Income Statement
 

Read Ch. 5 of Financial Accounting.

Consider the following as you read:

While services type businesses perform services in exchange for income, merchandise businesses have additional task that must be accounted for properly. To understand how different these two business operations are, you will have to look at their operating cycle:

 

 

 

What activities are unique to merchandise businesses?
 

 

How does management account for the additional task unique to a merchandise operations?
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