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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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JavaPro Systems is a​ start-up company that makes connectors for​ high-speed Internet connections. JavaPro Systems has budgeted
Iteru [2.4K]

Answer:

$429.60 Favorable

Explanation:

Provided information,

Standard Hours for each product = 3 hours

Standard Cost per hour = $14.00

Actual hours used = 198

Actual output = 80 connectors

Standard hours for actual output = 80 \times 3 = 240 hours

Actual Rate = $14.80 per hour

Direct labor cost variance = Standard Cost - Actual Cost

Standard Cost = Standard hours \times Standard Rae

= 240 \times $14 = $3,360

Actual Cost = 198 \times $14.80 = $2,930.40

Variance = $3,360 - $2,930.40 = $429.60

Since actual cost is less than standard variance is favorable.

$429.60 Favorable

3 0
3 years ago
The step in which a salesperson meets the customer for the first time is the __________ step of the creative selling process.
frosja888 [35]

The step in which a salesperson meets the customer for the first time is the <u>approach step</u> of the creative selling process.

<h3>Who is a saleperson?</h3>

A salesperson can be defined as the person whose sole reponsibilities is to market and sell a company product to potentials customers or buyers.

When a sales person meet a customer for the first time, the sales person need to first approach the customers  before marketing a product to the customer.

Therefore the step in which a salesperson meets the customer for the first time is the <u>approach step.</u>

Learn more about salesperson here:brainly.com/question/25586322

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5 0
2 years ago
As owner of a retail franchise food store, Mary Grey purchases supplies based on specials advertised nationally throughout the f
drek231 [11]

Answer:

a. sharing information across the organization

Explanation:

A franchise is an organisation that is authorised to use the brand of another to conduct business. The parent company provides support such as information about the brand and their business activity, and training to the franchise.

In the given scenario Mary Grey was surprised to find customers asking for specials she hadn't been informed of in advance.

This is a failure in the function of sharing information across the organisation.

Ideally information.on products and various campaigns should be first communicated to the franchises before they get to the customer

4 0
2 years ago
Natural rate. the natural rate of unemployment in europe is normally twice and at times three times that of the usa. can you exp
Stels [109]

The unemployment charge is the critical indicator which could degree the price of unemployed humans inside the overall labor pressure of the economy.

The unemployment rate would bring about the quantity of people unemployed inside the economy. The unemployment would also have a change off with inflation and is known as philips curve. The unemployment could bring about the fraction of people unemployed inside the economy.

The natural fee of unemployment would be the unemployment level at the whole employment degree in the financial system. The natural fee of unemployment would result in the sum of frictional and the structural unemployment within the economic system.

The increase in the frictional unemployment would result in the increase inside the herbal rate of unemployment as humans might also shift to higher research leaving job or can be unemployed in the transition whilst moving from one process to any other. thus, growth inside the frictional unemployment might bring about the growth in the unemployment within the economic system thereby growing herbal price of unemployment.

Learn more about unemployment here :- brainly.com/question/305041

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7 0
1 year ago
Glaston Company manufactures a single product using a JIT inventory system. The production budget indicates that the number of u
Travka [436]

Answer:

Budgeted overhead= $283,400

Explanation:

Giving the following information:

Production:

October= 192,000

variable overhead is applied at a rate of $0.70 per unit of production.

Fixed overhead equals $149,000 per month.

To calculate the budgeted overhead, we need to determine the total variable overhead for the month:

Budgeted overhead= fixed overhead + total variable overhead

Budgeted overhead= 149,000 + 0.7*192,000

Budgeted overhead= $283,400

6 0
2 years ago
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