sports
What does it mean when your net income is negative?
Definitions and Basics Net income is sales minus expenses, which include cost of goods sold, general and administrative expenses, interest and taxes. The ...
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What is trial balance and its objectives?
The purpose of a trial balance is to ensure that all entries made into an organization’s general ledger are properly balanced. A trial balance lists the e...
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What does in distress mean?
1 : very upset He was clearly in distress upon hearing the news. 2 : in a very difficult situation in which one does not have enough money, food, etc. She...
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When prices are rising which method of inventory if any will result in the lowest?
FIFO About Costing Methods In rising markets, FIFO yields the lowest cost of goods sold and the highest taxable income. If you sell one-of-a-kind items li...
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What is IRS in accounting?
Founded in 1862, the Internal Revenue Service (IRS) is a U.S. federal agency responsible for the collection of taxes and enforcement of tax laws. Most of ...
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How does additive increase multiplicative decrease AIMD in TCP congestion control works?
Additive increase/multiplicative decrease AIMD combines linear growth of the congestion window with an exponential reduction when a congestion takes place...
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What is the purpose of the Cost Analysis Requirements Description?
Cost Analysis Requirements Description (CARD) Guidance The CARD succinctly describes the key technical, programmatic, operational, and sustainment charact...
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What is the principle of objectivity in accounting?
The objectivity principle states that accounting information and financial reporting should be independent and supported with unbiased evidence. This mean...
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Is clerical salaries fixed or variable cost?
Any employees who work on salary count as a fixed cost. They earn the same amount regardless of how your business is doing. Employees who work per hour, a...
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What is an example of a direct fixed cost?
Direct costs can be fixed costs such as the rent for a production plant. Variable costs vary with the level of production output and can include raw mater...
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