Why some companies file for bankruptcy while they have high Net Income?

Start networking and exchanging professional insights

Register now or log in to join your professional community.

Next Question:
How does Gross Income differ from Net Income?
Posted by:
حسين محمد ياسين
24-January-2016

Assuming this company follow the American GAAP

Accounting US GAAP

Question added by Mohammed Alsatrawi , Treasury Manager , Al Yusr Industrial Contracting Co
Date Posted: 2014/05/01

Upvote (2) Views (4) Followers (1) Answers (1) Report Question

Write an Answer
Register now or log in to answer.

1 Answers

NIZAR PUTTENKUNNU

by NIZAR PUTTENKUNNU , Group Finance Manager , Refa Gifts Markets LLC & Group of Companies

to escape from debts

Downvote Reply () Report

Popular Searches

Engineering Technicians Jobs Engineers Jobs Sales Executive Jobs Accountant Jobs Software Engineer Jobs

Write Your Answer

More Questions Like This

Identify the different sources of accounting regulation including company law, local GAAP and IFRS?
Top Answer: IFRS stands for International Financial Reporting Standards. This is a set of accounting standards set by ... See More

Answers (3)
Which of the following statement(s) is(are) true regarding the relationship between absorption costing net income and variable costing income?
Top Answer: <p>D. In absorption costing, the fixed manufacturing overhead cost becomes part of product cost. He ... See More

Answers (3)
When production units is greater than sales units , absorption costing net income will be:
Top Answer: Option A- greater than variable costing net income.................. See More

Answers (10)
A manufacturing corporation asked you to prepare its income statement in its first fiscal year from these data . How much its net income ?
Top Answer: a net profit amounting to 6,400 dollars See More

Answers (5)

Do you need help in adding the right keywords to your CV? Let our CV writing experts help you.