Non-profit Credit Counselors should be avoided due to their high fees

When preparing the worksheet for a merchandising business using the perpetual inventory system, which of the following statements is incorrect?

A) The merchandiser's worksheet carries the account Cost of Goods Sold. B) The main new account is the Merchandise Inventory account. C) The worksheet procedures are not similar to the worksheet procedures for a service company. D) The Merchandise Inventory account must be adjusted based on a physical count due to inventory shrinkage.

In business-to-business channels, the functions of a merchant wholesaler are performed by a(n) ________

A) sales office B) commission merchant C) merchant broker D) business retailer E) industrial distributor