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What is the meaning of deffered income?
When you have earned income but will get paid in the future rather than upon earning it.
What is the process of earning your income sometimes called?
The process of earning your income is sometimes called "earning a living" or "making a living."
Meaning Advance Payment Tax?
Advance payment of tax means to pay tax along with the earning of his income this tax is paid on the current year income in the same year .In fact, it is paid as advance and it is called advance payment of tax
Why retain earning and reserve are same?
Retain earnings and reserves are same because both of them are part of net income but the purpose of these accounts are different.
Net income the same as net earnings?
Earning is more in sense of sales revenue while net income is different in this sence that it is the difference between revenues or earnings from expenses.
What are two types of income distribution?
Two types of income distribution are equal income distribution, where all individuals receive the same amount of income, and unequal income distribution, where income is not equally distributed among individuals resulting in some earning more than others.
Why is EPS presented on the income statement as opposed to all other financial statement ratios?
Because earning for specific fiscal year is calculated in income statement that's why earning per share for specific fiscal year is also presented in income statement.
What was the Household income in 1997?
The median household income in 1997 was approximately $37,005 in the United States. This represents the midpoint, with half of households earning more and half earning less.
What does pension?
A pension is an arrangement to provide people with an income when they are no longer earning a regular income from employment.
Expenses incurred while earning revenue should be reported in the same period that the income is reported?
matching principle
Is cash net income?
cash is not net income,it is part of wealth and can be used further in earning profit.
What is a formula of Earning ratio and earning per share?
Price earning ratio = market value per share / Earning per share Earning per share = Net income available to share holders / number of shares outstanding
