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jek_recluse [69]
1 year ago
11

Briefly define net income and net loss.

Business
1 answer:
lesya [120]1 year ago
5 0

Net income refers to the excess of revenue over expenditure of a firm, whereas net loss refers to the excess of expenditure of a firm over its revenue.

Net income refers to the net earnings of a firm. It is calculated by deducting total expenditure from total revenue. Total expenditure may encompass several heads, including business expenses, interest payments,fees, depreciation, taxes, etc. Net income helps to calculate the earnings of shareholders per share.

Net loss refers to the amount by which total expenditure exceeds the total revenue generated by the business operations of a firm. Revenues may be generated from products or goods sold, from transactions, from investments, etc. Net loss is reported as negative net profit on the income statement of firms.

To learn more about net income and net loss : brainly.com/question/17421000

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Verdich [7]

Answer:

3. Correctly ignored a sunk cost

Explanation:

Sunk costs refer to those costs which have been incurred in the past and which can no longer be recovered. For example, past expenditure on research and development with no current or future benefits represent sunk costs which can no longer be recovered.

Sunk costs are irrelevant for decision making process as they do not relate to current projects and yield no economic benefit.

In the given case, Manuel had already purchased a $10 movie ticket, which can neither be transferred nor eligible for a refund.  Later when he does not exercise the option of going for the movie and opts for a concert instead, the amount of 10$ spent on the movie represents a sunk cost which is non recoverable.

8 0
3 years ago
Discuss the potential problems for a business which does not keep adequate business records. (8 marks)
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it's mostly custumer service most of the time of take care of that mostly ok

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3 years ago
Employees of a hotel are short-staffed in the kitchen during a banquet event. The food will not be served on time, therefore thr
marta [7]
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3 years ago
On January 1, 2016, Tonika Company issued a four-year, $10,000, 7% bond. The interest is payable annually each December 31. The
disa [49]

Answer:

Option C is correct one.

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Discount on bonds payable 73

Cash 700

Explanation:

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3 0
3 years ago
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MAXImum [283]

Answer:

Attached image is the plotted and labeled graph.

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A.  (9,1)

B.  (3,7)

C.  (4,0)

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E.  (6,5)

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