When using the indirect method, adding an increase in an account such as Wages and Salaries Payable to net income eliminates the effect of recording Wages and Salary Expense that <u>according </u>this period.
<h3>What is
net income?</h3>
Sales are subtracted from cost of products sold, selling, general and administrative expenditures, operating expenses, depreciation, interest, taxes, and other expenses to arrive at net income (NI), also known as net earnings. Investors can use this figure to determine how much a company's revenue exceeds its costs. This figure is a measure of a company's profitability and may be found on the income statement.
- Revenues less costs, taxes, and interest equal net income (NI).
- NI is used to compute earnings per share.
- Because costs can be concealed via accounting techniques or revenues can be artificially overstated, investors should carefully examine the data used to calculate NI.
- In addition, after deducting taxes and deductions from gross income, NI is a person's total income or pre-tax income.
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Answer: "white flight" .
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Answer:
B. the amount a buyer is willing to pay for a good minus the amount the buyer actually pays for it.
Explanation:
a consumer surplus is the amount that exceeds the amount that a consumer actually pays for a product and the amount they are willing to pay
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