ACC556 Financial Accounting for Mgrs

Week 2 Discussion

Differences in Income Statements

Please respond to the following:

Distinguish between the income statement of a service company and a merchandising company. Identify at least two critical items of a multistep income statement of a merchandising company that are useful to creditors. Provide a rationale for your response.

Be sure to respond to at least one of your classmates’ posts.

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