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Net income will result if gross profit exceeds what?
expenses
What happens when expenditure exceeds income?
We can say that the business is in profit
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.
How do you calculate operating profit?
Sales Les: Cost of goods sold Gross Profit Less: Operating Expenses Operating Income
If sales volume exceeds the break-even point the firm will experience?
an operating profit
What is a principle of basic financial management?
The basic principle is this. Income exceeds expenditure = PROFIT Expenditure exceeds income = LOSS No profit or loss = BREAK-EVEN
How do you make a profit?
By ensuring your income exceeds your expenditure
Net income will result if gross profit exceeds what?
expenses
What happens when expenditure exceeds income?
We can say that the business is in profit
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.
If the income of a business exceeds its costs the money that remains is called the?
profit
How do you calculate operating profit?
Sales Les: Cost of goods sold Gross Profit Less: Operating Expenses Operating Income
If sales volume exceeds the break-even point the firm will experience?
an operating profit
What is the difference between ordinary income and operating income?
Ordinary income refers to any income that is not capital gain. Operating income is how much revenue a company will profit.
Is it true of false that profit is the difference between earned income and costs?
True. Profit is defined as the difference between earned income (revenue) and costs (expenses). If income exceeds costs, a profit is generated; if costs exceed income, a loss occurs.
Net income plus operating expenses is equal to gross profit?
gross profit
After gross profit is calculated operating expenses are deducted to determine?
net operating income
