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overdraft is included in balance sheet not in income statement which calculates gross and net profit

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13y ago

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Do thrift stores have to be non profit?

Not all thrift stores are non-profit, though most are. It depends whether you have a business or non-profit status.


What business organization requires more money up front entails shared profit and responsibilities but protects assests though shareholding?

what kind of business organization requires more money up front , entails shared profit and responsibilities but protects assets though share holding


Is an overdraft an advance?

Yes. Overdraft is like an advance where you take cash from your overdraft account (even though you do not have equivalent bank balance) and then you repay the money to the bank once you have raised enough funding to repay the same. The bank would charge you an overdraft fee + interest for the money you borrowed from them


Can a business earn a positive gross profit on its sales and still have a net loss?

Yes, a business can have a net loss even though they have a positive gross profit from sales. Expenses like rent, utilities, etc. have to be figured in, too.


Can a non profit organization operate under the umbrella of a for profit business?

== == I'm not sure what you mean by "umbrella". It cannot be a part - like a division - of a for profit business. I presume you mean can a qualified tax exempt not for profit Incorporated entity be a subsidiary of a for Profit Co... No. A zillion reasons, but lets leave it as it couldn't be a qualified NFP entity. ::edit:: A for-profit business can in fact start a non-profit. Of course, there are stipulations regarding management, operation, board structure, and inurement of funds, but the underlying point is that, though challenging, it is possible. http://www.socialedge.org/features/skoll-world-forum/discussions/business-models/creating-a-hybrid-for-profit-non-profit-social-enterprise-structure/view ::end edit::


Can a for- profit business operate under the umbrella of a non-profit organization?

== == I'm not sure what you mean by "umbrella". It cannot be a part - like a division - of a for profit business. I presume you mean can a qualified tax exempt not for profit Incorporated entity be a subsidiary of a for Profit Co... No. A zillion reasons, but lets leave it as it couldn't be a qualified NFP entity. ::edit:: A for-profit business can in fact start a non-profit. Of course, there are stipulations regarding management, operation, board structure, and inurement of funds, but the underlying point is that, though challenging, it is possible. http://www.socialedge.org/features/skoll-world-forum/discussions/business-models/creating-a-hybrid-for-profit-non-profit-social-enterprise-structure/view ::end edit::


What is The difference between a non-profit and for-profit?

The difference is the IRS designation and the intent. Non profits exist to serve a purpose. Business exists to make money, though they also may serve a purpose.


Can you withdraw money from the ATM even if there is no money in your account?

Many accounts have an overdraft, meaning you can withdraw more than you have, but which means your balance goes into the negative though, ie, you're now borrowing money from the bank. If you have overdraft on your account, you can withdraw up to the amount of overdraft protection you have. If you do not have overdraft protection, you can withdraw only up to the actual amount you have in your account.


What is a honor overdraft limit?

Honor Overdraft, such as at Wesbanco bank, is an amount you can overdraw your account before it being held against your credit. Wesbanco's honor overdraft for instance allows you to withdraw (in transaction, such as restaurant or store, ATM will not allow withdraw) $1-499 over your account balance before it is held against you, though overdraft fees and collection fees do apply until this negative balance is paid in full.


Is any interest charged to temporary overdrafts?

Overdraft is a form providing loan. Hence interest will be charged, even though it is on a temporary basis.


Is business ethics only consistent with short run profit maximization?

In the short run, a company may increase its profits by continuing to sell a product, even though, it knows that the product is defective or otherwise unsuitable for a particular use. In the long run, though, because of lawsuits, large settlements, and bad publicity, such unethical conduct will cause profits to suffer. Thus, business ethics is consistent only with long-term profit maximization. Quick Answer: No.


Do NFL teams profit from playoff appearances?

the players get a profit from playoff appearances. so do the coaches. not the staff though.