0
Is overhaul expenses of second hand machinery purchased are revenue expenses?
Wiki User
∙ 13y ago
Overhaul expense on a second hand machinery is a capital expense, and should be added to the original cast of the asset.
Wiki User
∙ 13y ago
Add your answer:
Earn +20 pts
How do you monitor and control actual expenses and revenue against projected expenses and revenue?
how to monitor and control expenses against budget/
What is the importance of revenue to a business?
revenue is what pays the expenses of running the business and hopefully you can even make enough revenue above expenses to make a profit
What is the meaning of revenue expenses in financial accounting?
Revenue expenses are those expenses which are incurred for every fiscal year to earn revenue for specific fiscal year and are recurring nature like salaries etc.
Does net loss occurs when expenses are less than revenue?
Net Income : When Revenue is greater than Expenses. Net loss : When Expenses are greater than Revenue. References : Basic Accounting (111) Book .
What is Revenue Deficit?
When the money coming in (revenue) is not enough to cover expenses.
What is the term used to describe the difference between revenue and expenses?
Revenue is the amount of money a business/person makes as a whole. Expenses are things that a business/person has to pay for with their revenue such as utilities that a business uses. What's left over from the revenue after the expenses are paid for is profit.
Definition of net income?
The amount by which revenue exceeds expenses. If expenses exceed revenue it is a net loss.
What is the revenue-net income?
Net income equals revenue minus expenses minus taxes So, revenue minus net income equals expenses plus taxes
What is Cost of revenue what is operating expenses?
The cost of revenue is the cost to produce a product. Operating expenses are expenses that have to be paid in order to stay in business like rent, utilities, etc.
Is it true that a loss occurs when your revenue exceeds your expenses?
False, revenue is gain
Does revenue generally mean after expenses or before expenses?
Revenue is before expenses or other costs of doing business. Revenue may be goods or services sold, or rent income , subscription income, interest income, or many other forms of income.
If the firm's sales revenue income exceeds its expenses the firm has earned a profit?
If a firm's sales revenue exceeds its expenses, the firm has earned a profit.
