The term "goods" means products sold by wholesalers. The term "merchandise" refers to products sold by retailers. Thus, the two terms refer to different products
Indicate whether the statement is true or false
F
You might also like to view...
Mountain Valley Sales Company has gross pay for March of $45,000. Which of the following is included in the journal entry to record salaries expense?
A) credit Salaries and Wages Expense B) debit Cash C) debit Salaries and Wages Payable D) debit Salaries and Wages Expense
Which of the Fiduciary Funds listed below is used to account for the assets held by a government acting as an agent for one or more other governmental units?
A. Private-purpose Trust Fund. B. Agency Fund. C. Pension Fund. D. Permanent Fund.
Under the ____________________ basis of accounting, revenues are recognized when earned and expenses when incurred
Fill in the blank(s) with correct word
A batch process requires ____________ flexibility versus a job shop.
a. More b. Less c. About the same d. Cannot be determined