The Major Difference in the Balance Sheet Between a Service

The major difference in the Balance Sheet between a service business and a merchandising business is:

A) that the Balance Sheet of a merchandising business includes Equipment as a current asset.
B) that the Balance Sheet of a merchandising business includes Prepaid Expenses as a long-term asset.
C) that the Balance Sheet of a merchandising business includes Inventory as a current asset.
D) nothing. There are no differences between the two.

Correct Answer:

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