Companies that purchase finished goods that they loter resell to customers are known as a manufacturing businesses Ob merchandising businesses O production businesses Od service businesses UESTION 2 Which of the following accounts of a merchandising business does not normally appear on the books of a service business? O a Wages Expense Ob Cost of Goods Sold c Accounts Payable Od Prepaid Rent QUESTION 3 Merchandise Inventory is a the expense associated with the price paid to acquire goods that have been sold to customers Ob the revenue account used to record the gross amount of revenue received from customers Other asset account used to report the cost of merchandise on hand at year-end 4 another term used for Net Income QUESTION 4 The went account for a merchandising business is called O a cost of Goods Sold Ob Merchandise Inventory Dc Sales Net Income Fees Emmed