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kiruha [24]
1 year ago
13

Explain the equation for the income statement. What are the three major items reported on the income statement?

Business
1 answer:
Sergio039 [100]1 year ago
4 0

The equation for the income statement is Revenues - Cost of goods = Net income. The three major items reported on the income statement are net income, gross profits, and operating income.

The income statement is a statement of the profits and losses of a firm. It consists of three income statements. The Net income is derived by deducting the expenses of the firm from its revenues (Net income = Revenue - Expenses). It may also be calculated by adding the operating income with the non-operating items.

Gross profit is arrived at by subtracting the expenditure made on the products that were sold from the revenue of a firm. The Operating income is the result of subtracting the operating expenses from the gross profit.

To learn more about income statement : brainly.com/question/14308954

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Answer:

c. remuneration of personnel

Explanation:

Henri Fayol developed the fourteen principles of management.

One of the fourteen principles being, Remuneration of personnel.

Fayol was of the opinion that in order to extract the best performance from employees, appropriate remuneration system must exist in an organization.

This meant emphasizing on employee satisfaction by following fair remuneration practices coupled with adequate incentive system which rewards good performance.

In the given case, the pharmaceutical company offers performance based incentives in the form of quarterly as well as annual bonuses in addition to an existing profit-sharing plan for employees. This is an example of Fayol's principle of Remuneration of personnel.  

8 0
3 years ago
Developing effective marketing communications starts with​ __________.
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8 0
3 years ago
Shoe-leather costs arise when higher inflation rates induce people to __________.
S_A_V [24]

Answer:

D - Hold less money

Explanation:

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During inflation period, nobody wants to hold more of cash because the value of money gets depreciated as inflation increases  (prices of goods increase).

For example, shoe-leather costs increases when there is an increase in inflation and it makes more economic sense to purchase shoe-leather as it preserves the value of money.

3 0
3 years ago
Rachel has just finished the business plan for a franchise that she expects to have international appeal. She is concerned about
mr Goodwill [35]

Answer:

B) The Madrid Protocol

Explanation:

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8 0
3 years ago
John, the CEO of Tresnel Inc., learns that the government of one of his company's foreign markets has enacted a new law that lim
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Answer:

The correct answer is letter "D": political and legal.

Explanation:

Managers should not be discouraged in front of <em>new legislation</em>. In fact, new laws setting boundaries on businesses can be detrimental for those companies but immediately after the regulations are enacted, firms should find out if the political environment of that law has grey areas that help companies to surpass them.

Besides, the social environment where the firm operates can offer companies other opportunities for the fir to grow. Research must be meticulously conducted under this scenario to find out new profit sectors in the market before making radical decisions such as stopping the operations of the entity.

5 0
3 years ago
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