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Is Cash an income or capital?

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Anonymous

14y ago
Updated: 8/19/2019

Cash (which actually is "cash in hand") is Asset. Capital is a liability. Income is the revenue generated by some commercial activity. Cash, cheque and other forms of revenue are only the payment modes. The product or service you sell for a price is revenue. Income is the residual amount after the expenses are accounted for. Cash is a balance sheet item while income is a trading and profit and loss item.

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Wiki User

14y ago

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