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Q: Main function of revenue and receipts cycle?
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Is gross receipts before deductions the same as total income?

Generally, no. Gross receipts are proceeds from sales, service contracts or the company's main revenue stream. Total income from all sources may include collected interest, royalties, or dividends from subsidiaries, which are not directly related to the company's main business.


Arman sets the goal for his sales team to increase revenue by 40. Which main function of a manager does this demonstrate?

Planning. (APEX)


Arman sets the goal for his sales team to increase revenue by forty percent. Which main function of a manager does this demonstrate?

Planning


Where does the governmnet get its revenue from?

The main source of government revenue at all levels is from taxes.


Difference between income and expenditure account and p and l account?

Differences Between Receipts And Payments Account And Income And Expenditure AccountThe following are the main differences between receipts and payments account and income and expenditure account: 1. NatureReceipts and payments account is a summary of cash transactions for a period and it is a real account. Income and expenditure account is a summary of expenditure and income like trading and profit and loss account and it is a nominal account.2. ObjectiveReceipts and payments account is prepared to show cash and bank receipts and payments during the period to derive closing balance of cash and bank. Income and expenditure account is prepared to show the net result of the operation during the period to derive surplus or deficit.3. RecordingAll cash and cheque receipts are recorded on debit side of receipts and payments account where as all cash and bank payments are recorded on credit side. In income and expenditure account all expenditure of revenue nature are recorded on debit side and all incomes of revenue nature are recorded on credit side.4. Capital And Revenue ItemsThere is no distinction between capital and revenue receipts and payments in receipts and payments account. All expenses and incomes of revenue nature are recorded on accrual basis in income and expenditure account.5. ContentsReceipts and payments account contains only cash and bank transactions. Income and expenditure account contains both cash and non-cash expenses and incomes of revenue nature.6. Balance Sheet RequirementReceipts and payments account is not required to prepare balance sheet. Income and expenditure account is required to prepare balance sheet.7. AdjustmentsNo adjustments are required in receipts and payments account. In income and expenditure account adjustments are made because it is prepared on accrual basis.

Related questions

What is the main function Krebs cycle?

The main function of the Krebs cycle is the complete oxidation of glucose to produce ATP. It is also referred to as the citric acid cycle.


What is the main function of the Krebs's cycle?

The main function of the Krebs cycle is the complete oxidation of glucose to produce ATP. It is also referred to as the citric acid cycle.


What is the main function of the kreb's?

The main function of the Krebs cycle is the complete oxidation of glucose to produce ATP. It is also referred to as the citric acid cycle.


What is the main function of the kerb cycle?

carbon dioxide


Is gross receipts before deductions the same as total income?

Generally, no. Gross receipts are proceeds from sales, service contracts or the company's main revenue stream. Total income from all sources may include collected interest, royalties, or dividends from subsidiaries, which are not directly related to the company's main business.


Arman sets the goal for his sales team to increase revenue by forty percent. Which main function of a manager does this demonstrate?

Planning


Arman sets the goal for his sales team to increase revenue by 40. Which main function of a manager does this demonstrate?

Planning. (APEX)


What was hamilton' s financial plans main source of revenue?

The main source of revenue was tariffs.


What are the main sources of revenue for local governments?

The main source of local government revenue is intergovernmental transfers.


What are the main sources of state revenue and how do they differ from the main sources of local revenue?

The main sources of state revenue come from personal income tax. They differ from the main sources of local revenue because states get income, property and sales taxes local governments get property taxes plus they get money from the state.


How can you use the word revenue in a sentence?

The main source of government revenue is taxes.


Where does the governmnet get its revenue from?

The main source of government revenue at all levels is from taxes.