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True or False. Accounting profit equals sales revenue minus explicit costs?

True


True or false Profits will be maximized when total revenue equals total cost?

yes


True or false Will profits be maximized when total revenue equals total cost?

yes


Profit is the money a business collects from conducting business true or false?

False. Profit is not just the money a business collects; it is the amount remaining after all expenses, costs, and taxes have been deducted from total revenue. In other words, profit is the net income that indicates the financial health of a business.


A nazard true or false-accrual convention is when the revenue earned for a particular period is added to the expenses involved in making the revenue in that period-accounting?

It is false. The right answer is ,the revenue is matched with expenses involved in making the revenues in that period.\the difference will produce a profit or loss.


Is it true or false that the objective of a firm is to maximize total revenue?

Generally speaking, the main objective of a firm is profit maximisation. This is not always the case, however, as some firms have different goals, including providing charitable services, satisficing, and providing a high quality good or service.Revenue (income) increases profit, while expenses decrease profit. Therefore, if a firm's revenue increases more than their expenses increase, they will generate a greater profit.


Is it true of false that profit is the difference between earned income and costs?

True. Profit is defined as the difference between earned income (revenue) and costs (expenses). If income exceeds costs, a profit is generated; if costs exceed income, a loss occurs.


Is Tom Deckard a false profit?

A person cannot be profit - therefore, a person also cannot be false profit.


Is this statement true or false gross profit minus selling expenses equals net income?

Not really...Gross profit = Net sales - Cost of goods soldThe profit on an item is not dependent upon all of your operating expenses. You would include operating expenses to determine net income for the business, but not to calculate gross profit for the sale of inventory.


The revenue recognition principle dictates that companies recognize revenue in the period in which it was received rather than when it was earned- True or False?

false


Does Revenue will always increase cash its true or false?

False. While revenue represents the total income generated from sales, it does not directly equate to cash flow. Factors such as credit sales, delayed payments, and operational expenses can lead to situations where revenue increases but cash flow remains tight or even negative. Thus, a business can report high revenue while struggling with liquidity.


Is it true that a loss occurs when your revenue exceeds your expenses?

False, revenue is gain