Yes, income is the same thing as revenue, however there are key words to help distinguish between the types of "income" or revenue.
Revenue (sometimes referred to as income) is the money a company receives from providing a good or service. Sales Revenue or Sales Income are a good example of how Revenue and Income can be interchangeable. Both refer to the same thing, money brought into a business from "sales".
Gross Income (rarely referred to as Gross Revenue) is the income a company has after the cost of goods sold are deducted.
Net Income is basically the what's remaining of the Gross Income after all expenses such as Taxes, Salaries, Etc are paid.
Retained Earnings is the final step. Retained earnings is simply PROFIT. It is what the company has after dividends are paid out of Net Income, if applicable. Retained earnings is what the company literally made after all COGS, Expenses, and Dividends are paid.
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Revenue is income that is basically income such as, income, income and more income. Do You Understand ?!
Operating revenue is the revenue which is earned from basic business operating activities while in tolal income may include revenue from non operating activities as well.
Give me a example of Revenue Income, pls?
Total sales and total revenue are slightly different. Revenue is any type of money or income that is coming into the company, which may not always be a form of sales. Sometimes a company or business may receive revenue from investments, which is different from when it is selling an item. Sales are a part of a company's total revenue.
Revenue would be income. Income taxes would be a liability.
A revenue receipt in context with income tax is the time that revenue or income occurred. A revenue receipt can also be a type of proof of revenue, such as a W-2 Form from an employer.
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Net sales and revenues are important in the business community. Both are needed for a business to succeed. However, they are not the same thing. Sales lead to revenue.
Other or rent revenue is also revenue which is not from basic operations of business that's why this revenue is shown as other revenue in income statement.
Rent revenue appears under the Non-Operating Revenue Section on the income statement.