Indicate which one of the following would appear on the income statement of both a merchandising company and a service company.
A) Gross profit
B) Operating expenses
C) Sales revenues
D) Cost of goods sold

Question

Quizplus · Accepted Answer

Operating expenses appear on the income statements of both merchandising and service companies, as they include costs related to the administration and general operations of the business, regardless of the company's industry.

Indicate Which One of the Following Would Appear on the Income