Can a business earn a gross profit but incur a net loss

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1. What distinguishes a merchandising business from a service business?

2. Can a business earn a gross profit but incur a net loss? Explain.

3. What is the difference between the cost of merchandise purchased and the cost of merchandise available for sale? Can they be the same amount? Explain.

4. What is the difference between the cost of merchandise available for sale and the cost of merchandise sold? Can they be the same amount? Explain.

Reference no: EM13899581

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