0
What else can I help you with?
What is the difference between earnings and profit?
Earnings include expenses, while profits are less expenses. Businesses try to maximize profits by reducing expenses, which is why some businesses charge more for the similar products.
What is a synonmy for revenue?
A synonym for revenue is "income." Other alternatives include "earnings" and "proceeds." These terms refer to the money generated from business operations or investments before expenses are subtracted.
What is difference between expenses and losses?
A business (company or individual) earns money - called earning or revenue. To earn this, the entity incurs expenses - such as material, salaries, telecom costs. When you subtract the expenses from the revenue, the result is called 'profit', if it is positive, and 'loss', if negative. So the difference is - expenses are the costs incurred by a business, and loss is the difference between earnings and expenses, (if expenses are more than revenues).
What is after all expenses are subtracted the amount of money left after a sale is called a?
profit
What effect do revenues and expenses have on retained earnings?
Revenues Increase and Expense Decreases.
The special account used only in the closing process to temporarily hold the amounts of revenues and expenses before the net difference is added to or subtracted from the owner's capital account is?
Income Summary Account
Are revenues the same as net income?
Revenues are earnings from sales of products and net income is the difference between revenues and expenses.
What is the difference between earnings and profit?
Earnings include expenses, while profits are less expenses. Businesses try to maximize profits by reducing expenses, which is why some businesses charge more for the similar products.
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 is difference between expenses and losses?
A business (company or individual) earns money - called earning or revenue. To earn this, the entity incurs expenses - such as material, salaries, telecom costs. When you subtract the expenses from the revenue, the result is called 'profit', if it is positive, and 'loss', if negative. So the difference is - expenses are the costs incurred by a business, and loss is the difference between earnings and expenses, (if expenses are more than revenues).
Expenses that can be subtracted form gross income?
Deductions
Should depreciation expenses be reported in retained earnings?
no
What are the subdivisions of owners equity?
the four subdivision of owner's equity are: Capitals Withdrawls Expenses Earnings (Revenues) DO NOT MISTAKEN ACCOUNT PAYABLES & RECEIVABLES AS BEING EXPENSES AND EARNINGS or REVENUES :)
What are current year earnings on a balance sheet?
Current year earnings are the net income or loss of the business for the current year. This amount is the difference between all revenues and all expenses on the income statement. Current year earnings are presented on the balance sheet only until they are transferred to retained earnings.
What is after all expenses are subtracted the amount of money left after a sale is called a?
profit
What is cost ratio calculated by?
Cost Ratio = expenses/earnings
What are The four subdivisions of owner's equity?
the four subdivision of owner's equity are: Capitals Withdrawls Expenses Earnings (Revenues) DO NOT MISTAKEN ACCOUNT PAYABLES & RECEIVABLES AS BEING EXPENSES AND EARNINGS or REVENUES :)
