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What is the amount by which income is greater than expenses called?
The amount by which income is greater than expenses is called profit. It represents the financial gain a business or individual makes after all expenses have been deducted from total income. Profit is a key indicator of financial health and performance.
What is the us deficit?
The difference, on a yearly basis, between the budget (expenses) for the federal government of the United States and revenues (income). When the expenses are more than the income, the difference is called the deficit. When the income is more than the expenses, the difference is called a surplus.
What must be bigger than what if a business is to make a profit?
For a business to make a profit, its total revenue must be greater than its total expenses. This means that the income generated from sales and services must exceed all costs associated with operating the business, including production, labor, and overhead costs. If expenses surpass revenue, the business will incur a loss.
What is a definition of a regressive tax system?
A tax system that puts a greater burden on low-income people than on high-income people
What is the final step in creating a budget?
The final step to making a budget is to make adjustments so that your expenses are less than your income.
If expenses are greater than income there is no what?
There is no profit.
What is the relationship between income and expenses before a break-even point is reached?
Before the break even point, total expenses exceed total income and there is a loss made.
What is it called when your expenses are greater than your revenues on an income statement?
loss
What is it called when your expenses are greater than your revenue on an income statement?
loss
What is the amount by which income is greater than expenses called?
The amount by which income is greater than expenses is called profit. It represents the financial gain a business or individual makes after all expenses have been deducted from total income. Profit is a key indicator of financial health and performance.
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 .
Why a budget line sloping downward?
Because the expenses are greater than the income.
How companies make profits?
Companies make a profit when their gross income is greater than their expenses. Expenses can include renting equipment and paying employees.
How could net profit be greater than gross profit?
It is impossible for net profit to be greater than gross profit. Gross profit is the income made before any expenses. Net profit is less once all expenses have been deducted.
What does it mean to maintain profitability?
To be able to keep making money even though you have to buy stuff. The income is greater than the expenses basically...
How do you use expenses in a sentence?
My expenses are more than my income; meaning that I spend more than I bring in.
What is the difference amount of expense over income called when income exceeds expense?
Expenses more than income is called "Loss" Income over expenses called "Profit"
