Question 1 of 2 n !! View Policies Current Attempt in Progress Mr. Etemadi has prepared the following list of statements about service companies and merchandisers. Identify each statement as true or false. 1. Measuring net income for a merchandiser is conceptually the same as for a service company. 5. The operating cycle of a merchandiser is the same as that of a service company. 6. In a perpetual inventory system, no detailed inventory records of goods on hand are maintained.