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What represents the profits from revenues after deducting only the cost of goods sold?
Wiki User
∙ 9y ago
After only deducting cost of goods sold from revenues is the Gross profit which is the difference between revenues and cost of goods sold.
Wiki User
∙ 9y ago
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The costs of goods and services used in the process of earning revenues are called?
A business or company has expenses. Expenses include the costs of goods and services that are used in the process of earning revenues.
What are unearned revenues?
Unearned revenues -Advance payments for goods or services that a company must provide in a future accounting period
What does net income equals?
revenues minus cost of goods sold.
What will come when Sales revenues minus the cost of goods sold equals?
profit
Making profits off of goods that are in short supply?
profiteering
2 Revenues represents a. an outflow of assets resulting from the sale of goods or services b. assets received from selling products or services c. assets used or consumed in selling products or?
assets received fro selling products or services
When are revenues reported?
Under the accrual basis of accounting, revenues are reported in the accounting period when the services or goods have been completed. This is answer to question 3 on the Accounting Basics quiz.
What are the revenues of the electromedical and electro-therapeutic apparatus industry?
$13.5 billion worth of goods in 2000
What are realized revenues?
REALIZED REVENUE-A revenue transaction where goods and services are exchanged for cash orclaims to cash.
Accounting for membership revenue?
Membership revenue is a cornerstone of accrual accounting in which both revenues and expenses are recognized. Revenues are accounted for when goods are transferred or services rendered, even when no cash has been received yet.
Why did colonists smuggle goods?
Because there was money to be made in smuggling. There were no taxes paid to the government for smuggled goods. This meant that the seller could keep all of the profits, and/or get goods much cheaper.
When is sales revenues usually considered earned?
Sales revenue are usually considered earned when "goods are transfered from the seller to the buyer".
