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2 years ago

What does the income statement determines ?

Business

1 answer:

nordsb [41]2 years ago

7 0

Answer:

The purpose of the income statement is to show the reader how much profit or loss an organization generated during a reporting period. This information is more valuable when income statements from several consecutive periods are grouped together, so that trends in the different revenue and expense line items can be viewed.

Explanation:

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In November 2016, General Motors produced a car that was delivered to a local dealership in December 2016. The auto was sold to

horsena [70]

Answer:

It will be counted as investment in 2016 and negative investment in 2017.

Explanation:

National income refers to the total value of a country's final output of all new goods and services produced in one year. There are various ways of measuring national income, e.g. GDP, GNP, etc

Therefore, following national income accounting practices, the car would be counted as part of the investments and GDP of 2016, and negative investment in 2017, because that was the year in which it was produced.

4 0

3 years ago

Michael Burda of Humboldt University in Germany and Daniel Hamermesh of the University of Texas examined how workers in the Unit

Aleks04 [339]

GDP is the sum of all final goods and services produced by an economy in a given period. In calculating GDP only the final goods and services that are traded are accounted for. Thus, household services that do not generate income are not accounted for in GDP, only productive activities. Therefore, in the long run the tendency is that the GDP analyzed by this issue will decrease, because when the unemployment rate increases, fewer workers will be employed in the productive sector. These people may substitute work for leisure or household chores, but this will not count in GDP.

3 0

3 years ago

How do you make a deposit form?

Anna11 [10]

A deposit is a sum of money placed or kept in a bank account, usually to gain interest

6 0

3 years ago

Mill Company began operations on January 1, 20X1, and recognized income from construction-type contracts under different methods

Vinvika [58]

Answer:

Deferred tax asset balance on December 31, 20X3 = $115,500

Explanation:

The computation of the amount of deferred income taxes should Mill report is shown below:

<u>Year Tax purpose Book purpose Difference Deferred tax book </u>

20X1 $400,000 $0 $400,000 $84,000

20X2 $625,000 $375,000 $250,000 $52,500

20X3 $750,000 $850,000 ($100,000) ($21,000)

Deferred tax asset balance on December 31, 20X3 = $115,500

5 0

2 years ago

Joining a Meetup group in your area allows you to

kherson [118]

Answer:

The correct answer would be A, Find out what your competitors are doing.

Explanation:

A meetup group in an area is a meet and greet event where people of the area meet with each other. New people make acquaintances with each other and come to know about each other. Already known people share their latest happenings. It is a casual form of meeting where people may know about what their competitors are doing at the moment in their business. This may help you in drawing your upcoming strategies in the market. This is the best way to get to know about the competitors.

7 0

3 years ago

Read 2 more answers