Compare and contrast accounting for a service-based businessversus a merchandising business. What are some...

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Accounting

Compare and contrast accounting for a service-based businessversus a merchandising business. What are some of the accounts thatare unique to the latter type of business? What is the differencebetween gross and net profit?
Please provide one main post and two additional peerinteractions. Your main post must be a minimum of 200 words

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A merchandising business is one which sells merchandise to its customers It would include retail stores fashion outlets etc which buy their goods from suppliers and retail them to the customers On the other hand servicing business doesnt provide any tangible products to its customers they provide their services to the customers Some See Answer

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In: AccountingCompare and contrast accounting for a service-based businessversus a merchandising business. What are some of...Compare and contrast accounting for a service-based businessversus a merchandising business. What are some of the accounts thatare unique to the latter type of business? What is the differencebetween gross and net profit?Please provide one main post and two additional peerinteractions. Your main post must be a minimum of 200 words