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    Question

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    (a) "The steps in the accounting cycle for a merchandiser are different from the accounting cycle for a service enterprise." Do you agree or disagree? (b) Is the measurement of net income for a merchandiser conceptually the same as for a service enterprise?
    Explain.

    © BrainMass Inc. brainmass.com June 3, 2020, 5:12 pm ad1c9bdddf
    https://brainmass.com/business/accounting/question-17843

    Solution Preview

    a) The steps in the accounting cycle are basically the same: Identify transaction, journal entries, posting to ledger, trial balance, ...

    $2.19

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