What is the best definition of profit?

1 answer:

4 0

<span>Profit can be best defined as gain, especially when achieved by increasing the price of goods so the money paid by consumers outweighs the cost for the producer, leaving a sizeable return on what has been paid out. Once expenses and costs have been covered, profit is the money left over.</span>

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Patterson Corporation began the year with retained earnings of $325,000. During the year, the company issued $500,000 of common

timofeeve [1]

Answer:

$1,615,000

Explanation:

total revenue for the year can be calculated by adding retained earnings (at end of the year) + distributed dividends + total expenses - retained earnings (at the beginning of the year)

total revenue = $350,000 + $90,000 + $1,500,000 - $325,000 = $1,615,000

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3 years ago

This video speeds through over 10 common mistakes people make that leave them open to identity theft. list at least 5 of them he

Vikentia [17]

Leaving Your Mail Unguarded. ...

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Using an Insecure Internet Connection.

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2 years ago

You have just won $20,000 in the state lottery, which promises to pay you $1,000 (tax free) every year for the next twenty y

Marta_Voda [28]

The current value of the payment which is $1000 will be:
A=P(1+r/100)^-n
P=1000
r=5 %
n=1
A=1000(1+5/100)^-1
A=1000/1.05
A=$952.38
The first payments of $1000 is worth $952.38 today. The value of the second $1000 is worth:
A=1000(1+0.05)^-2=907.02
today

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3 years ago

Advances in technology like the creation of cheap, lightweight laptops has allowed workers to work from almost anywhere. Please

andriy [413]

Answer:

Got this from the same website you used

Explanation:

Advances in technology like the creation of cheap, lightweight laptops have allowed workers to work from almost anywhere. TRUE.

5 0

3 years ago

A problem that the Fed faces when it attempts to control the money supply is that a. since the U.S. has a fractional-reserve ban

NeTakaya

Answer:

A) since the U.S. has a fractional-reserve banking system, the amount of money in the economy depends in part on the behavior of depositors and bankers.

Explanation:

Since US banks operate under a fractional reserve banking system, they have the capacity to create money through the money multiplier, e.g. you deposit $1,000 in bank A, then bank A borrows $850 to Steven and he purchases a new bike from Sarah. Then Sarah deposits the money in bank B, and bank B borrows $722 to George who buys a laptop from Henry. Henry then deposits the money in bank C, and bank C borrows $614 to Susan, and this goes on and on.

The problem that the Fed faces is that in order for the fractional reserve system to work, households must hold their money in banks. Ans that is something that the government cannot control, specially the amount or portion that is deposited. The other players are banks, that ideally should borrow all the money that they are allowed to.

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3 years ago