If a firm's sales revenue exceeds its expenses, the firm has earned a profit.
Net income is negative which means that either company has earn less revenue or have incurred more expenses then revenue earned.
penis
Yes revenues and expenses are part of income statement and difference between revenue and expenses is called net income or loss.
expenses
Positive Operating income will result if gross profit exceeds operating expenses
The amount by which revenue exceeds expenses. If expenses exceed revenue it is a net loss.
Net income equals revenue minus expenses minus taxes So, revenue minus net income equals expenses plus taxes
Net income is negative which means that either company has earn less revenue or have incurred more expenses then revenue earned.
Revenue is before expenses or other costs of doing business. Revenue may be goods or services sold, or rent income , subscription income, interest income, or many other forms of income.
An expense such as rent, utilities, insurance goes on the income statement because it is an expense that occurs to operate the business and it affects the net income of said business. If I have an income of $15,000 and I paid out expenses of $10,000 my net income is $5,000.
penis
Yes revenues and expenses are part of income statement and difference between revenue and expenses is called net income or loss.
expenses
*Heading *Revenue *Expenses *Net income
Positive Operating income will result if gross profit exceeds operating expenses
revenue
Profit or Net Income