A: “…airlines and hotels are primarily providers of services such as transport and lodging, respectively, yet they both sell gifts, food, beverages and other items. These items are definitely considered goods, and these companies certainly have inventories of such goods. Both can list COGS on their income statements and claim them for tax purposes. Costs of goods sold include the direct cost of producing a good or the wholesale price of goods resold. Other potentially deductible costs include labor, if the labor was directly involved in the good's production process, supplies, shipping costs, freight in and directly related overhead.” Read more: What are some examples of industries that cannot claim cost of goods sold (COGS)? | Investopedia
A: The difference in nature is minimal but the functional variance and consequences of each move could be costly in the long run. “Business bank accounts often offer similar features to your personal account, but a business bank account , first off, will be opened in the name of your business. This will add credibility and legitimacy to your business, since, from a professional viewpoint, invoices made out to ACME Widgets looks far more established than those made out to 'John Smith’s personal account'.” Check this article for more differences: https://www.suncorp.com.au/learn-about/business/compare-business-and-personal-accounts.html