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Yes, non profits can sell goods to earn money for their business to pay for rent, utilities, and staff wages but they money cannot be given to board members for profit.
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∙ 12y ago
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What is the tax rate when you sell a house owned by a corporation?
The profit from the sale of the house (amount of sale minus the basis) will be taxed as income for the corporation, at their usual rate.
What is the definition of merchant?
one whose occupation is the wholesale purchase and retail sale of goods for profit
What is online retail trading?
the purchasing and retailing or exchange of goods, commodities or cumsumer items online for sale to realize a profit.
What is the difference between a net profit and a net sale?
Well net profit is the profit that you get after paying all your taxes, and after all the expenditure of the year!!! But net sale is the actual sale - Sales returns. For eg., lets say you sold goods for rs.5000 and goods amounting to 1000 were returned. So here rs.5000 was revenue and 1000 is sales returns. So net sale is 5000-1000=4000. Now consider, you have carried on some repairs in office or whatever that cost you 2000, so your net profit will be 4000-2000=2000 So, this is the main difference b/w net profit and net sales.
How does the modern meaning ofbusinessdiffer from the traditional one?
1. Modern definition of business is the production, distribution, and sale of goods and services for a profit.
What is murabaha?
Murabaha is a sale contract with a bank whereby, the bank purchases the goods, and then resells them to the client with an agreed upon profit margin.
How does the sale of bonds benefit a corporation compared to stocks or borrowing?
They sell savings bonds of cash, and collect interest from the sells, therefore making a profit.
What is the sale if gross margin mark-up is 40 of cost?
Could be anything, 40 is gross profit after costs of goods sold is deducted.
What is journal entry for goods sold costing Rs40000 to Anil at a profit of 20 percent on sales?
by anil dr -------40000 to sale cr---------40000
What affects Gross Profit and Cost of Goods sold?
Gross profit can be determined the costs associated with making a sale and the total sale (revenue) itself. Many items will effect gross profit. On the revenue side, items such as the number of goods sold and the price at which they are sold both factor into the revenue from which the costs are subtracted. These costs may include manufacturing expenses, raw material costs, labor costs, selling and general administrative costs and other expenses. Any alteration in the cost structure of these items listed will effect the gross profit that is realized with the sale of a good or service.
Defined total goods available for sale?
total goods available for sale
What defines income?
The amount of money or its equivalent received during a period of time in exchange for labor or services, from the sale of goods or property, or as profit from financial investments.
