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From society's point of view the economic function of profits and losses is to?
Wiki User
∙ 12y ago
direct resources in response to changes in the economy
Wiki User
∙ 12y ago
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What is the economic function of profits and losses?
The economic function of profits and losses is to determine the performance of a company. This is what will contribute to the overall measure of the economy in a region.
Economic function of profits and losses?
Economic profit will never exceed accounting profit. The accountant will calculate total cost using only explicit costs (basically a transfer of money) that the firm makes. On the other hand, .
Economic profits and losses are true market signals because they?
because they convey info about rewards people should anticipate experiencing by shifting resources from one activity to another
Division of profit and losses in partnership?
Profits and losses are shared evenly Except otherwise stated in the contract.
A firm jointly owned and run by two or more people who share all profits and losses is a?
A firm jointly owned and run by two or more people who share profits and losses is a partnership.
Why do you prepare a profit and loss appropriation account?
profit & loss appropriation accounts are prepared after profits. Basic purpose is to show how the profits are distributed.NOT only profits but also concerned losses.
What does the word entrepreneur?
Entrepreneur is a person who actually does the business. He/She is responsible for the profits or losses.
What is a group of investors who share profits and losses?
Most likely, they would be shareholders.
What is the role of stockholders in financing corporations?
collect profits. bang management if experience losses
Why can firms not always reduce prices until they increase sales and profits?
if marginal production costs exceed marginal revenues, the firm will suffer losses, not profits.
What is the difference between economic and science?
economics is the study in which we study benefits and loss through this profits and losses can be determined,...whilescience is the knowledge gained throgh observations and experimentation ,...while this word is derived from a latin word scientia which means knowledge
What happens to the house during a divorce if neither party wants it?
Sell it and divide the profits and losses.
