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LekaFEV [45]
3 years ago
5

I identify the different names given to the income statement.

Business
1 answer:
ella [17]3 years ago
5 0
<h2>The other name for "income statements" are:</h2><h2>profit and loss statement, P&L, statement of earnings, or statement of operations.</h2>

Explanation:

  • An income statement is the most important "financial statements" which has the ability to show to the company's financial performance over a specific accounting period.
  • It includes the expenses, revenue and also the net income or loss for a particular accounting period.
  • Revenue is earned and also reported to the statement of operations / income statement.

Definition of the term:

Revenue: Money received through sale of products or services

Uses of income statement:

To determine the operating performance of your business over a period of time

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Over the years Rianna paid $65,000 in premiums on a life insurance policy with a face value of $100,000. Upon reaching 65, while
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Answer:

$30,000 of taxable income

Explanation:

Given:

Total amount paid = $65,000

Face value of life insurance policy = $100,000

Surrender value receive = $95,000

Note: The amount received from the life insurance policy is non-taxable income but if any gain happens from the surrender of the policy, the amount of gain will be taxable.

Computation of Taxable income:

Taxable income = Surrender value receive - Total amount paid

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The standardization strategy uses __ marketing activities across national boundaries whereas the adaptation strategy uses a ____
nadezda [96]

Answer:

The correct answer is letter "C": similar; differentiated strategy.

Explanation:

The advertisement of a product can be shaped according to the region where the good or service will be offered whereas, in some other cases, changes in marketing can be minimal or null. In such scenarios, the standardization approach uses the same marketing method for every country where the company has a presence. This will only work if consumers worldwide have similar needs and preferences.

The differentiated strategy, instead, links customers' expectations, patterns, and cultures with the marketing processes of the firm. This approach aims to give a tailored good or service to different consumers and is mostly used.

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