Assume that Axle Inc. reported a net loss of P50,000 in 2006 and net income of P250,000 in 2007. The increase in net income of P300,000: * a. can be stated as 0% b. can be stated as 100% increase c. cannot be stated as a percentage d. can be stated as 200% increase

Assume that Axle Inc. reported a net loss of P50,000 in 2006 and net income of P250,000 in 2007. The increase in net income of P300,000: * a. can be stated as 0% b. can be stated as 100% increase c. cannot be stated as a percentage d. can be stated as 200% increase

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

Assume that Axle Inc. reported a net loss of P50,000 in 2006 and net income of P250,000 in 2007. The increase in net income of P300,000: *

a. can be stated as 0%

b. can be stated as 100% increase

c. cannot be stated as a percentage

d. can be stated as 200% increase

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