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In national accounts, net output is equivalent to the gross value added during an accounting period when producing enterprises use inputs (labor and capital assets) to produce outputs. Gross value added is called "gross" because it includes depreciation charges (or more precisely, consumption of fixed capital). If the value of depreciation is ...
Zwolinski and Wilhoit defined, in 1972, "gross" and "net" values for heats of combustion. In the gross definition the products are the most stable compounds, e.g. H 2 O (l), Br 2 (l), I 2 (s) and H 2 SO 4 (l). In the net definition the products are the gases produced when the compound is burned in an open flame, e.g. H 2 O (g), Br 2 (g), I 2 (g ...
"Gross" means total product, regardless of the use to which it is subsequently put. "Net" means "Gross" minus the amount that must be used to offset depreciation – ie., wear-and-tear or obsolescence of the nation's fixed capital assets. "Net" gives an indication of how much product is actually available for consumption or new investment.
How To Calculate Net Income. Based on the definition of “net income,” you calculate it by looking at your total revenue and subtracting any and all expenses.. Gross profit takes your total ...
In economics, gross output (GO) is a measure of the value of production of new goods and services during an accounting period.Gross output represents the total value of sales by producing enterprises (their gross revenue or turnover) in an accounting period (a quarter or a year), before subtracting the value of intermediate goods used up in production from the value of sales.
A net (sometimes written nett) value is the resultant amount after accounting for the sum or difference of two or more variables. In economics , it is frequently used to imply the remaining value after accounting for a specific, commonly understood deduction.
In economics, gross value added (GVA) is the measure of the value of goods and services produced in an area, industry or sector of an economy. "Gross value added is the value of output minus the value of intermediate consumption; it is a measure of the contribution to GDP made by an individual producer, industry or sector; gross value added is the source from which the primary incomes of the ...
The fundamental accounting equation, also called the balance sheet equation, is the foundation for the double-entry bookkeeping system and the cornerstone of accounting science. Like any equation, each side will always be equal. In the accounting equation, every transaction will have a debit and credit entry, and the total debits (left side ...