Which of the following is not a difference between a retail business and a service business?

A) in what is sold
B) the inclusion of gross profit on the income statement
C) accounting equation
D) inventory included on the balance sheet

Retail Business

A business type that sells goods or services directly to end consumers.

Gross Profit

The difference between sales revenue and the cost of goods sold, representing the core profitability of a company's products or services before deducting operating expenses.

Inventory Included

This refers to all items of merchandise, raw materials, work-in-progress, and finished goods that a company holds for the purpose of sale or production.