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What do you mean by income over expenditure or expenditure over income?
Wiki User
∙ 11y ago
income over expenditure is profit
expenditure over income is loss
Wiki User
∙ 11y ago
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Is it true for an economy as a whole. income equals expenditure because the income of the seller must be equal to the expenditure of the buyer?
Yes
Explain why an economy income must equal it's expenditure?
An economy's income must equal it's expenditure to keep its budget in balance. If the income is less, it results in debt which eventually has to be paid back.
Why GDP equals aggregate expenditure and aggregate income?
GDP would be the amount of gross income a person or company receives. This would be the amount of income minus the amount of expenditure on things like bills.
What is the approaches to GNP Accounting?
output(production) , income & expenditure .
Why an economy's income must equal to it's expenditure?
For an economy as a whole, income must equal expenditure because:u Every transaction has a buyer and a seller.u Every dollar of spending by some buyer is a dollar of income for some seller.
Is credit income or expenditure?
Credit is neither an income or an expenditure. It becomes an expenditure when you use it. expenditure
What is the difference between income and expenditure incurred?
Inflow of money is income . Outflow of money is expenditure
What is between revenue and expenditure?
revenue is income and expenditure is an expense
What is life assurance fund?
It is the excess revenue income over revenue expenditure for an insurance company.
What is income expenditure?
A statement that records the income and expenditure of an organization such as a charity,whose main purpose is not the generation of profit.
What is the difference between capital income and capital expenditure?
Income is money coming in, expenditure is money going out (spending).
Is it true for an economy as a whole. income equals expenditure because the income of the seller must be equal to the expenditure of the buyer?
Yes
Which financial statement summarises income and expenditure?
income statement
Is saving an injection into and investment a leakage from the income expenditure stream?
Savings are a leakage from the income expenditure stream because they drain on the economy
What is the expenditure of a company whose income for 1 year is Rs108000 and has a profit of 45 percent?
Income is Rs108000. If profit is 45%, then expenditure is 55% Hence expenditure is 55% of Rs108000, or Rs59400.
Distinquish between savings and financial surplus?
This is the difference between Income and Expenditure in a non-profit making business, where the income exceeds expenditure
What do you mean by recurring expenditure?
A recurring expenditure is one which you have to keep paying over and over, like rent. It is unlike capital expenditures which you only have to pay once.
