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1,2,and3 true or false? A retailer purchases goods from a manufacturer...

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Accounting

1,2,and3 true or false?
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A retailer purchases goods from a manufacturer and sells them to customers. True False Question 2 (5 points) On the income statement, a service company reports the cost of merchandise inventory that has been sold to customers. True False Question 3 (5 points) The operating cycle of a merchandiser begins when the company purchases inventory from a vendor and ends when the company collects cash from customers. True False

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