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zhuklara [117]
3 years ago
12

What is the uses of trading, profit and lost account​

Business
1 answer:
Len [333]3 years ago
4 0
The profit and loss account is used to determine the net profit of the business. The starting point for the profit and loss account is the balance carries down from the trading account which is the gross profit of business. Hope this helped you out...
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If Tex's Manufacturing Company purchases the component externally, $20,000 of the fixed costs can be avoided. At what external p
Delvig [45]

Answer:

$210,000

Explanation:

The computation of the external price is shown below

Making cost =  buying  cost

$120,000 + $25,000 + $45,000 + $30,000) = external price + Unavoidable fixed cost (30,000-20,000)

$220,000 = External price + $10,000

So,

External price = 210,000

Hence, the same is to be considered

Therefore the external price is $210,000

5 0
4 years ago
A contingent liability which should be disclosed on the balance sheet but does not require footnote disclosure. (true/false)
expeople1 [14]

A responsibility or possible loss that could materialize in the future based on how a particular occurrence plays out is known as a contingent liability.

<h3>What is contingent liability?</h3>

A responsibility or possible loss that could materialize in the future based on how a particular occurrence plays out is known as a contingent liability. Contingent liability can take the form of pending investigations, product warranties, and potential lawsuits. Liabilities that may be incurred by a company dependent on the result of an uncertain future event, such as the result of an ongoing lawsuit, are known as contingent liabilities.

When they are both probable and reasonably estimable as a "contingency" or "worst case" financial consequence, these obligations are not recorded in a company's records and are not displayed on the balance sheet. The kind and size of the contingent liabilities may be described in a footnote to the balance sheet. It is feasible to categories a loss's possibility as remote, improbable, or probable.

To learn more about contingent liability refer to:

brainly.com/question/17371330

#SPJ4

4 0
1 year ago
The​ bring your own​ device phenomenon has raised​ _____________ concerns for companies.
svetlana [45]

Answer: The correct answer is security.

Explanation: The bring your own device phenomenon has raised security concerns for companies. It is very difficult for businesses to maintain the security of their IT systems. When companies allow their data to be accessed by personal devices it becomes very difficult for them to insure that the data stays safe on devices that they have no control of.

5 0
3 years ago
Isabella wants to gather competitive intelligence (CI) on toy manufacturers before she launches her toy company, which has devel
ser-zykov [4K]

Answer:

d. scanner research

Explanation:

The scanner research includes the data analyze that collected via scanning the devices and same is applied at the time of purchase. It is the type of the computer based research and she wants to check that non-computer sources

So the other options would not be considered as they are doing for the research purpose

But the above option is not considered for the same

Therefore the option d is correct

3 0
3 years ago
The opportunity cost of producing corn in New Zealand is approximately tons of millet, and the opportunity cost of producing cor
BartSMP [9]

Answer:

2 tons of millet for New Zealand and 3 tons of millet for Brazil.

Explanation:

New Zealand and brazil both can produce corns and millet. The opportunity cost for Brazil is more than the New Zealand. Both the countries should go towards the production of the crop in which they have comparative advantage. New Zealand has comparative advantage in producing millet and Brazil has comparative advantage in producing corn.

5 0
3 years ago
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