The economic profit is $320,000-$250,000=$70,000.
Economic earnings or loss is the distinction between the sales received from the sale of an output and the costs of all inputs used, as well as any opportunity prices. In calculating financial income, opportunity charges and explicit costs are deducted from revenues earned.
Income is the financial metric that suggests an entity's economic advantage or sales from any enterprise or funding interest. monetary profit is cash earned after taking explicit and implicit costs into account.
Profit is the financial metric that shows an entity's financial advantage or sales from any commercial enterprise or investment pastime. economic earnings are cash earned after taking explicit and implicit prices into consideration.
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The most useful way of standardizing financial statements is to choose a _<u>base year</u>,_ and then express each item in the period under review relative to the _amounts____ in the base year.
<h3>What are comparative financial statements?</h3>
Comparative financial statements compare a particular financial statement with previous statements. Previous financial statements are presented in side-by-side columns with the latest figures. With this, investors are able to track a company's progress over some periods and compare the company's financial results and performance with its industry competitors.
Thus, financial statements can be compared using financial ratios, which express the relationships between the various items within a financial statement, or using a base year.
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Answer:
Bad debt expenses = $4,000
Explanation:
Debit Credit
Bad debt expense $4,000
Allowances for doubtful accounts $4,000
Workings
= $5,000 of receivables - $1,000 of Allowance for doubtful account
= $4,000
The statement that are true about credit scores are; credit scores reflect how likely individuals are to repay their debts. The credit bureau does not hide how it calculates peoples credit. The correct answer is A.
The correct answer is exchange or trade
