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3 years ago

Identify the two basic categories of items on an income statement.

Business

1 answer:

Assoli18 [71]3 years ago

5 0

Answer:

Revenue
Expenses

Explanation:

The Income statement is used to check the financial performance of a company within a period by calculating the net income or losses made.

It does so by subtracting the expenses incurred from the revenue realized. These two categories are therefore the most basic items in the income statement and will always appear in them.

Examples of Revenue sources include; Sales and Service Revenues.

Examples of Expenses include; Advertising, Salaries and Depreciation.

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Analyzing the effects of transactions on the accounting equation.

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Answer:

I used an excel spreadsheet to record the accounts using the accounting equation.

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$163,900

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3 years ago

Which of the following describes a situation in which a shortage occurs?

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Answer:

C. Consumers want more video game systems then the company can make.

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4 years ago

Why is it important for a manager or decision maker to have a good understanding of both of these approaches to decision making?

Zigmanuir [339]

Answer:

It is important for a manager/decision maker to have a good understanding of both of these approaches, because it is more beneficial if the manager/decision maker can combine the two approaches to the situation.

Explanation:

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3 years ago

A strong culture should reduce employee turnover because it results in ________.

Advocard [28]

<span>A strong culture should reduce employee turnover because it results in </span>cohesiveness and organizational commitment.

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4 years ago

X Company must replace one of its current machines with either Machine A or Machine B. The useful life of both machines is seven

Anastaziya [24]

Answer: 0 years

Explanation:

The payback period calculates the amount of time taken to recoup the initial investment made in a project or in the purchase of a machine or building. It calculates how long the cumulative cash flow generated from a project equals the cost of the project.

The payback period for both machines are zero years because the cumulative cash flow is less than the cost of the machine.

For machine A - cumulative cash flow- $-47,000 is less than -$71,000

For machine B - cumulative cash flow, -$7,000 is less than -$52,000

Explanations on how the figures were derived is found in the attached tables.

7 0

4 years ago