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False, as revenue increases the owners equity if expenses are less than revenues and vice versa.
profit
loss
When your expenses are more than your revenues, the revenue account will be a debit balance. You have lost money!
Increasing revenue is indicative of a growing company. ALL companies should try to reduce expenses... regardless of growth.
Net Income : When Revenue is greater than Expenses. Net loss : When Expenses are greater than Revenue. References : Basic Accounting (111) Book .
False, as revenue increases the owners equity if expenses are less than revenues and vice versa.
loss
profit
Loss or a deficit.
Revenue 12000000 Less: Expenses @ 75% of revenue 9000000 Depreciation 1500000 Net Income 1500000
When a firm spends more than it gains in revenue it is called a LOSS.
Revenue from operations is the amount of money brought in from the sale of goods and/or services; other revenue includes any gains made on investments or other non-operating activities. Income and profit are basically synonymous. Both terms refer to the amount of money you've made at the end of the operating cycle. In its simplest form, profit is revenue less expenses. If the amount of money spent on operations (expenses) is less than the amount of revenue earned, there is a profit; if expenses are more than revenues, there is a loss. On a multiple-step income statement, gross profit is sales less cost of goods sold, profit from operations is gross profit less expenses, profit before taxes is profit from operations plus or minus any gains or losses from other revenue and expenses and net profit (also called net income) is profit before taxes less income taxes.
loss
Simply means incoming funds are less than outgoing funds which indicates losses for people or businesses involved.
When your expenses are more than your revenues, the revenue account will be a debit balance. You have lost money!
When your expenses are more than your revenues, the revenue account will be a debit balance. You have lost money!