if a firms expense equal or exceed it's revenue what actio might management take

Q: What items are included in the company's operating income?

A: The performance of the company will be evaluated using the operating income of the company.…

Q: ation differ

A: Accounting: It is the process of recording any financial transactions incurred in the financial year…

Q: What are the two general criteria that must be satisfied before a company can recognize revenue?

A: Definition:   Revenue recognition principle: Revenue recognition principle emphasizes, that the…

Q: Revenue is recognized based on a five-step process that is applied to a company's revenue…

A: Definition:   Revenue recognition: GAAP (generally accepted accounting principle) states that under…

Q: How are organization expenses reported?

A: Expense: It can be defined as the cost of running a company's operations to generate or earn…

Q: The comparison of a company's financial condition and performance to a base amount is known as

A: The financial performance identifies how successfully a firm makes revenues and manages its assets,…

Q: Explain the difference between profit and profitability.    Explain the concept of going concern…

A: Following are the difference between profit and profitability: Profit is an absolute figure that…

Q: _________ is generally referred as a parameter to check/test the efficiency of the business concern.…

A: The primary objective to do business is to earn profit.

Q: Accounting equation is developed based on which of the following ? a. Historical cost b. Money…

A: An accounting equation is an equation which states that asset is equal to the sum of liability and…

Q: Why is treasury considered a profit centre. What are the revenues and expense

A: In finance profit center refers to that branch or division that adds, in a direct manner, to an…

Q: What is the difference between a revenue and a gain? O a. Revenue results from internal…

A: Analysis: Revenue: Revenue means total  income generated by the company from the sale of goods or…

Q: When choosing between the ‘nature’ and ‘function’ of expenses in the presentation of its statement…

A: For analyzing the expense, two methods are used, namely the nature of expense and function of…

Q: If a company capitalizes costs that should be expensed, how is its income statement for the…

A: A capitalized cost seems to be an element that is added to the cost structure of a fixed asset on a…

Q: What criteria determine whether a company can recognize revenue over time?

A: Revenue is recognized over time if one of the following conditions is met: The customer…

Q: In accounting terms, what is the difference between profit and loss

A: Accounting is based on the principle of double-entry. It may be described as how a company records…

Q: What is meant by “economic Consequences” in accounting standard-setting

A: Definition: Financial accounting standards board (FASB): This is the organization that creates,…

Q: How is the valuation of cuIrent assets affected if the company follows IFRS? OValuation is based on…

A: SOLUTION- HISTORICAL COST  IS THE ORIGINAL OF AN ASSET , AS RECORDED IN AN ENTITY'S ACCOUNTING…

Q: Accounting equation is developed based on a. Revenue realization b. Dual aspect c. Money measurement…

A: The accounting equation states that assets equals to total of liabilities and shareholders' equity.

Q: What is the difference between a revenue and a gain? Revenue results from internal transactions,…

A: Revenue means the amount earned by selling the goods or services which is the main business of the…

Q: Why Revenue is recognized when performance obligations are satisfied, not necessarily when cash is…

A: Revenue recognition principle: Revenue recognition principle states that every business organization…

Q: D) going concern?example  E) periodicity?example  F)Revenue recognition principle? Example…

A: The accounting principles seem to be the basic rules and procedures that businesses must adhere to…

Q: When an organization considers its work-in-process, how should it be classified on a balance sheet?…

A: Work in process is a part of the inventory component of balance sheets, Inventory is categorized…

Q: Can you tell whether a business can or cannot meet its obligations when it becomes due based on the…

A: Balance sheet refers to the financial statement of a company which includes asset ,liability, debt ,…

Q: Identify the accounting assumption, accounting principle, or reporting constraint that mos…

A: Accounting principles are those rules, regulations and guidelines which are used by the accountants…

Q: Define accounting profit

A: The profit earned by an entity after considering all the cost and expenses accruing to the entity…

Q: What transactions are included in income from continuing operations? Briefly explain why it is…

A: Income from continuing operations includes the revenue, expense, gain, and loss transactions that…

Q: Define and explain multiple performance obligations.

A: Comment - Multiple Questions Asked Question- 1 Define and explain multiple performance obligations.…

Q: is the segment of activity of a business which is responsible for both revenue and expenses. a.…

A: The segment which is responsible for revenue and expenses is the profit center but it is not…

Q: When do accountants consider revenue to be realized?What basic question about recording revenue in…

A:

Q: Under what type of responsibility would cost accounting go under? managerial accounting, tax…

A: Cost accounting is a branch of accounting which is used to determine the costs of different…

Q: Is a company's net income INDIRECTLY included in the company's balance sheet?

A: As per the guidelines, only one question is allowed to be answered. Please upload different…

Q: Is accrual accounting more closely related to a company’s goal of profitability or liquidity?

A: ACCRUAL CONCEPT - generally, the accrual concept recognizes revenue as and when it is accrued or…

Q: If a firm's expenses equal or exceed its revenue, what actions might management take?

A: Expenses are the costs or amounts that are incurred by an entity for meeting up the daily needs of…

Q: What do accountants mean by the term revenue?

A: Revenue is the sum that a corporation earns from selling products and/or supplying its clients and…

Q: What is “comprehensive income”? Its composition varies from company to company but may include which…

A: Comprehensive income: The total of net income and other comprehensive income (OCI) is referred to as…

Q: which manner the manager behave when choosing a particular accounting method to increase the…

A: Earnings management can be defined as the accounting method in order to depict a positive view in…

Q: Service revenue belongs on which financial statement?

A: Service revenue is in the nature of Revenues account. Therefore, the Balance of Service revenues…

Q: Identify each of the following terms or phrases as an accounting (a) principle, (b) assumption, or…

A: Accounting assumptions :      As the name suggests, these are the assumptions to be considered by…