All categories

1 year ago

Explain the difference between (b) Expenses and losses.

1 answer:

4 0

The primary distinction between expenses and losses is that costs are incurred in order to produce income, whereas losses are often associated with any other activity. the sale of an asset with a long lifespan for less than its book value. a negative verdict in a lawsuit brought against the business.

The cancellation of bonds that are payable at a cost higher than their carrying value An expense is a business's operational cost incurred to produce income. It may deduct tax-deductible expenses on its income tax returns. Either the cash basis approach or the accrual method is used by accountants to record expenses.

To learn more about expenses, click here.

brainly.com/question/14514813

#SPJ4

You might be interested in

In today's business environment, companies have to find ways to remain profitable by coping with increased competition and rapid

eimsori [14]

Answer:

<u>Greater</u>

Explanation:

However, as the organizations come in different types of divisions of levels in organizations like the First middle and top level of management. thus the managers are classified as hierarchical structures, like a matrix of structure like the horizontal, vertical and diagonal.

When we eliminate the levels in the management the action usually results in the centralized structure of the organization functioning and hence it further leads to the attainment of greater control over the organization. As the elimination of the middle man and the elimination of various bottlenecks takes place.

7 0

3 years ago

An example of an ________ ________ is where Sylvania provides lightbulbs that, one might assume, are safe to use and will last f

Juliette [100K]

Answer:

Implied warranty.

Explanation:

Implied warranty is when there are presumed assurance of the performance of a product due to the circumstances of the sale. For example when one purchases a television the assumption is that the television will work. This is the implied warranty when making a purchase.

In this instance Sylvania sells light bulbs and the buyer assumes that the bulbs are safe to use, and will last for a good period of time before they fail.

A violation of implied warranty for example is if one buysa product and it does not work at all. The customer can return the item for replacement.

7 0

3 years ago

which would be considered liabilities? check all that apply.motorcycle loanown a housecar loancredit card billmortgage

Alex777 [14]

Credit cards would be considered liabilities.

4 major types of credit cards are Visa, MasterCard, American explicit and discover. Those are the main credit card networks, which most credit playing cards belong to, and they dictate where cards can be used in addition to what secondary benefits cards offer.

It's generally recommended that you have to a few credit card accounts at a time, in addition to different styles of credit scores.

Keep in mind that your general available credit and your debt-to-credit ratio can impact your credit scores. if you have greater than 3 credit score playing cards, it is able to be hard to maintain song of monthly bills.

Learn more about credit card here: brainly.com/question/6872962

#SPJ4

5 0

1 year ago

1. Why might a person assume that Ms. White would be doing well financially?

GuDViN [60]

Answer:

I think you’re a person assumes and Mr. White will be doing well financially is because she is that the one who is teaching people how to financially afford people are going to think she’s doing well financially

Explanation:

It’s really simple she’s doing she’s teaching everybody how to initially a food thing should be good

8 0

2 years ago

The income statement lists all the

olchik [2.2K]

Answer:

A. revenue and expense

Explanation:

An income statement is among the three important financial statements prepared by a business entity. It summarizes all incomes (revenues) and expenses (costs) of a company in a particular financial year. Total costs are subtracted from the total revenue to get the net income.

An income statement is prepared to show the profits of a business in a particular financial year. A positive net income indicates profits, while a negative net income denotes losses.

6 0

2 years ago