Report on Classification Of Business Essay Examples



businesses. Merchandising basically, is a type of business in which goods are purchased by merchandising firms, which then sell these goods to customers. The money received from selling products is recorded, and the cost of acquiring the products subtracted to attain the gross profit, in a merchandising business. All expenses incurred during the business operation are then deducted from the total gain to obtain the net profit. Purchases made after the sale of merchandise and recorded as inventory. Other records include returns for returned purchases and sales of merchandise. In a merchandise business, discounts are offered to customers to encourage to pay earlier. Shipping of merchandise requires...