Why is the normal operating cycle for a merchandising company likely to be longer than for a service company?
The steps in the accounting cycle for a merchandising company are different from the accounting cycle for a service company.”
Do you agree or disagree? (b) Is the measurement of net income
for a merchandising company conceptually the same as for a service
company? Explain.
. Why is the normal operating cycle for a merchandising company
likely to be longer than for a service company?