McCartney Consulting Group is a management-consulting firm that provides its expertise to businesses that employ its services. Since it does not hold an inventory of goods or produce any goods itself
a. its gross profit could be identical to its net revenue.
b. its revenue will equal its net income.
c. it is unlikely to have any operating expenses.
d. its balance sheet will not record any current assets.
Answer: a. its gross profit could be identical to its net revenue.
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