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how does income and expenses account difference from Profit and Loss Account?
Income and expense for not for profit organisations is same as profit and loss account but they cannot use the name profit and loss account because not for profit organisations are not formed to earn profit.
Is it true that a loss occurs when your revenue exceeds your expenses?
False, revenue is gain
Will unearned revenue be shown in profit or loss account?
NO
What is it called when your expenses are greater than your revenue on an income statement?
loss
What is the difference between cost and revenue?
Revenue is the profit made from an activity, while cost is the price something is.
Explain the effects of poor customer service on an organisations reputation?
Loss of customer base; loss of sales; high complaints; poor impression; loss of confidence in the service; loss of funds raised for the charity; loss of contracts; redundancy
Negative effects of shifting ipl from India?
Loss of Advertisement Revenue and Extra costs of accommodating players are the two negative effects for Lalit Modi because of shifting the IPL out of India
Is it true that a loss occurs when your revenue exceeds your expenses?
False, revenue is gain
how does income and expenses account difference from Profit and Loss Account?
Income and expense for not for profit organisations is same as profit and loss account but they cannot use the name profit and loss account because not for profit organisations are not formed to earn profit.
What are threats to mollusks?
Amphibians and habitat loss
What are the lynx threats?
Humans and habitat loss
What are some of the ocelot's threats?
Threats to ocelots include humans, habitat loss, dogs, etc.
Does net loss occurs when expenses are less than revenue?
Net Income : When Revenue is greater than Expenses. Net loss : When Expenses are greater than Revenue. References : Basic Accounting (111) Book .
Where are surplus shown in balance sheet?
With non-profit organisations, when the balance sheet doesn't show a loss, but what would be classified a profit for profit organisations, it is called a surplus. When it is what would be considered a loss for profit organisations, it is called a deficit.
What occurs when expenses are greater than revenue?
loss
Will unearned revenue be shown in profit or loss account?
NO
Is a business making a profit when the revenue is less than its cost?
NO, if reveneu is less then cost then company is in loss as following forumula: Net profit (loss) = Revenue - Cost
