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3 years ago

What is profit and loss account

Business

2 answers:

Leni [432]3 years ago

8 0

Answer:

Explanation:

Profit and loss is not an account. It is calculated by taking the difference between the revenues minus the expenses of a business. If there are more revenues than expenses, the difference is positive or a Profit. If there are more expenses than revenues, the difference is a negative or a Loss.

vitfil [10]3 years ago

5 0

La cuenta de pérdidas y ganancias (P&G) es un estado financiero que resume los ingresos, los costos y los gastos incurridos durante un período específico, generalmente un trimestre o año fiscal. La cuenta de pérdidas y ganancias es sinónimo de la cuenta de resultados. Estos registros proporcionan información sobre la capacidad o incapacidad de una empresa para generar beneficios mediante el aumento de los ingresos, la reducción de los costos o ambos. Algunos se refieren al estado de ganancias y pérdidas como un estado de ganancias y pérdidas, estado de resultados, estado de operaciones, estado de resultados financieros o ingresos, estado de ganancias o estado de gastos

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In 2008, as a financial crisis began to unfold in the United States, the FDIC raised the limit on insured losses to bank depos

Tomtit [17]

The FDIC stands for Federal Deposit Insurance Company.

By raising the limit on insured losses the FDIC helps stabilize the system by instilling confidence.

If the consumer knows that their savings accounts are protected up to $250,000 they will be encouraged to spend money during a time of crisis.

Because of the increased limit, there is less probability that there would be something called

"a run on the bank."

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3 years ago

an operating agreement is required for a limited liability company to exist, and it must be in writing. true false

puteri [66]

An operating agreement is required for a limited liability company to exist, but it need not be in writing.

A limited liability company's (LLC) operating agreement is a crucial document that outlines the company's financial and operational decisions, as well as its rules, laws, and requirements. The document's goal is to regulate the company's internal operations in a way that meets the unique requirements of the owners, referred to as "members," of the company. The limited liability company's members are legally obligated to abide by the conditions of the instrument once they have signed it. Only three states—California, Missouri, and New York—have laws requiring an operating agreement. The state's default norms, established by state court decisions and found in the applicable statute, apply to LLCs operating without an operating agreement.

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1 year ago

A hospital reports the following cost and revenue data: Variable cost per inpatient day of $250 Revenue per inpatient day of $10

REY [17]

Answer:

Expected profit at a volume of 25,000 inpatient days = $3,750,000.00

Explanation:

The expected profit is calculated as follows:

<em>Step 1</em>

<em>Total contribution per inpatient from 25,000 inpatients</em>

contribution = (revenue - variable cost) per patient

= $(1000-250)

= $750 per inpatient day

<em>Total contribution for 25,000 inpatient days</em>

$750 × 25000 = $18,750,000.00

<em>Step 2</em>

<em>Calculate Profit </em>

Profit = Total contribution - Fixed cost

=$18,750,000.00 -$15,000,000

= $3,750,000.00

Expected profit at a volume of 25,000 inpatient days = $3,750,000.00

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3 years ago

In a bottom-up approach, managers should have a ________ level of controllability and a ________ level of involvement in budget

xeze [42]

In a bottom-up approach, managers should have a high level of controllability and a high level of involvement in budget setting.

<h3>What is a bottom-up budget approach?</h3>

Bottom-up budgeting is a method of creating budgets that begins at the departmental level and works its way up.
Each department within the organization must create a list of the supplies it requires, the projects it intends to complete throughout the upcoming fiscal year, and cost projections.

<h3>What is top-down and bottom-up budgeting?</h3>

Departments must create budgets in top-down planning while adhering to the limitations imposed by senior leadership.
Departments produce their own budget estimates and submit them to top leadership in a bottom-up budget.
The two strategies are the two types of budgeting that are most frequently used.

<h3>What is bottom-up approach in accounting?</h3>

Bottom-up forecasting is a technique for predicting an organization's future performance by beginning with basic company information and moving "up" to revenue.
This strategy begins with thorough customer or product data before expanding to revenue.

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1 year ago

An ad campaign by Suave shampoo asked television viewers to identify the heads of hair of women who used Suave shampoo and condi

Paraphin [41]

Answer:

Suave is most likely using<u> below-market pricing</u> or<u> the penetration pricing strategy.</u>

Explanation:

Penetration pricing is one of the pricing strategies used by the companies. In this strategy, the company gains the customer's attention and market shares by offering their products at low price. This increases the demand of the product or service in the future. This strategy involves below-market pricing to sell the products.

8 0

3 years ago

What is profit and loss account​

What is profit and loss account