5. In what three ways may such losses be treated on the books and balance sheet?
6. How would you treat profit on goods being made for stock?
7. How would you treat profit on long-term contracts?
8. How would you treat profit on goods awaiting delivery?
9. What about profits due to appreciation of assets?
10. How would capital profits be handled?
11. Sum up briefly the considerations governing the determination of profits.
Chapter XXIII
1. Define surplus; margin. What are the sources of margin?
2. Explain the booking of the appropriation of profits.