Which of the following statements related to a Service Provider is incorrect?
A) A Service Provider commonly will not carry inventory or cost of goods sold accounts.
B) Occasionally, a Service Provider will carry goods for sale that complement the service provided.
C) Most costs for a Service Provider are expensed as incurred instead of going through the balance sheet.
D) A Service Provider commonly will carry inventory and cost of goods sold accounts similar to a Merchandiser.

Question

Quizplus · Accepted Answer

Service Providers typically do not carry inventory or cost of goods sold accounts like Merchandisers, as they primarily offer services rather than physical goods.

Which of the Following Statements Related to a Service Provider