Answered

Connect with a global community of knowledgeable individuals on IDNLearn.com. Find accurate and detailed answers to your questions from our experienced and dedicated community members.

what should determine an actual profit? extraordinary events net income total operating results and consistent net income material losses verses revenue

Sagot :

AmishaSrivastavaidn

Total operating results and consistent net income determines an actual income.

What is income?

  • Income refers to the ability to consume and save earned by a business over a specified period of time and is generally expressed in money.
  • Income is difficult to define conceptually and definitions vary by region.
  • Income is money received by an individual or business  in return for doing work, producing goods , services.
  • While individuals usually earn their income through wages or salaries, businesses generate income from the sale of goods or services that exceed their production costs.
  • His three most important types of income are earned income, passive income, and portfolio income.
  • Earned income consists of wages, salaries, tips and commissions.
  • Passive or unearned income is derived from rental properties, royalties, and limited partnerships.
  • Portfolio income includes interest, dividends and capital gains on investments.

To learn more about income from the given link :

https://brainly.com/question/14732695

#SPJ4

We appreciate your contributions to this forum. Don't forget to check back for the latest answers. Keep asking, answering, and sharing useful information. Find reliable answers at IDNLearn.com. Thanks for stopping by, and come back for more trustworthy solutions.