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If you mean "There is neither any profit nor any loss in business, then what is that situation called ?". Then the answer is that such a situation is typically called as the "Break-Even point", or a "no-profit-no-loss" situation. This happens when the Gross Profit that you earn from a business is exactly equal to the Fixed Expenses of the business. Using an example, suppose I sell 1000 fans at Rs. 100/00 each, which I bought for Rs. 80/00 each. Opening stock and closing stock was Rs. 15000/-. So 100000 + 15000 - (15,000 + 80,000) = 1,15,000 - 95,000 = 20,000 would be my Gross Profit, assuming there are no other variable costs, like Transportation, Freight Inwards etc. In that scenario, if my fixed expenses, like Electricity Expenses, Salary Expenses, Bank Interest etc. aggregated to Rs. 20,000/-, i.e. exactly equal to my Gross Profit, it would mean that I am at my "Break-Even Point".
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If the income of a business exceeds its costs the money that remains is called the?
profit
When expenses are more than income is called?
Their is a LOSS of income, or loss for the business operation. You can have either a LOSS or a PROFIT or possibly break even with neither a loss or a profit.
What is statement of profit or loss?
A statement of profit and loss is the business income and expense statement which sumarises the total income and expenses coming to the total profit (or loss) of the business which is the defference between the income and expenses.
What is the fourmula of pnl?
Profit and Loss formulas. Profit and loss is the branch of basic mathematics which deals with the study of profit and loss made in a business transaction.
Why profit and loss account is called as profit and loss account and why not profit or loss account?
Tradition, and the need to call it something.
What is the difference between profit and loss account and profit and loss appropiation account?
Profit and loss accont is used to calculate the profit or loss of business while profit and loss appropriation account is used to allocate or distribute net income or loss to share holders or different reserves account.
What is the business definition for profit loss statement?
The business definition of the profit loss statement is a financial statement that explains your costs, expenses and revenues in a specific time period.
What are the relationships between Profit and Loss?
In business, when you earn more than what you spent, that surplus amount is called profit. On the other hand, when you sell at a rate lower than the amount you spent, you face a loss. Profit = Selling Price - Cost Price Loss = Cost Price - Selling Price
Where can someone get a profit and loss statement?
A profit and loss statement is a summary of how a much money a business has made over a period of time. If one has a very small business, it is possible to create one's own profit and loss statement using software, and one must send this in with the business' tax return. However, the larger the business, the more likely it is that an accountant or bookkeeper will need to create the profit and loss statement.
What does business income mean?
The earning generated by way of profit, selling of property, commision or any other form by the company can be called as business income and is reflected in the Profit & Loss A/c and Balance Sheet of the company.
What is the meaning of the abbreviation 'PNL' in terms of business?
profit and loss
How does piracy affect business?
it makes the legitimate business owner to make no profit and when the profit decline, workers loss their jobs
