9) Merchandising companies that sell to retailers are known as a. brokers. b. corporations. c. wholesalers. d. service fims. 10) Which of the following would not be considered a merchandising operation? a. Retailer b. Wholesaler c. Service firm d. Merchandising company 11) Gross profit equals the difference between a. net income and operating expenses. b. net sales revenues and cost of goods sold. C. net sales revenues and operating expenses. d. net sales revenues and cost of goods sold plus operating expenses. 12) Each of the following companies is a merchandising company except a a. wholesale parts company. b. candy store. c. moving company. d. furniture store. 13) Net income will result if gross profit exceeds a. cost of goods sold. b. operating expenses. c. purchases. d. cost of goods sold plus operating expenses. 14) Two categories of expenses in merchandising companies are a. cost of goods sold and financing expenses. b. operating expenses and financing expenses. c. cost of goods sold and operating expenses. d. sales and cost of goods sold. 15) The primary source of revenue for a wholesaler is a. investment income. b. service revenue. c. the sale of merchandise. d. the sale of plant assets the company owns. 16) Sales revenue less cost of goods sold is called a. gross profit. b. net profit. c. net income. d. marginal income