Topic 1 dq 2 – acc 240 - Study guides, Class notes & Summaries

ACC 240 Topic 4 DQ 1 Topic 4 Participation 1). Describe the difference between gross profit and income from operations. Why would a company be concerned with gross profit rather than just overall income from operations? 2). Explain what is meant by the term "sustainable income". Why is it important to distinguish between sustainable income and actual net income? Is one more important than the other? Please explain. 3). A short-term creditor 4). Ratio analysis

ACC 240 Topic 1 DQ 2 ACC 240 Topic 1 DQ 2 Accounting is often referred to as "the language of business." Explain in your own words what that expression means.

ACC 240 Topic 2 DQ 1 Describe the major sections of the multistep income statement. Explain why it would be important for a company to break out its income in this manner.