Ch 4: Overview of Service & Trading Businesses

About This Chapter

Further develop your understanding of service and trading businesses and accounting methods used for both types of businesses using this short chapter. These lessons are great tools you can reference if you are currently taking an accounting or business course or are preparing for student assessment exams.

Overview of Service and Trading Businesses - Chapter Summary

In this chapter, you will learn about the different needs and processes related to trading and service businesses. You will find detailed examples and key definitions to help clarify the business concepts discussed in each of the lessons comprising this chapter.

You will review marketing processes, inventory management and accounting procedures relevant to the operations of both types of businesses. After completing your study of this chapter, you should be able to:

  • Define and provide examples of trading and service businesses
  • Explain the process of distributing products to consumers
  • Relate documentation and processes in accounting for trade and service businesses
  • Determine inventory using various cost flow assumption methods
  • Describe how to make different balance day adjustments to accounting reports

Video and text lessons take only minutes to review and provide details through expert instruction to ensure you are getting the information you need to master each topic. You can access these lessons 24/7 from any device and ask instructors any lesson-specific questions using an easy online contact form. Measure your knowledge of each topic using self-assessment quizzes and track your progress through this chapter on your handy Dashboard.

Chapter Practice Exam
Test your knowledge of this chapter with a 30 question practice chapter exam.
Not Taken
Practice Final Exam
Test your knowledge of the entire course with a 50 question practice final exam.
Not Taken

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