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Loss or a deficit.
loss
Matching revenues and expenses is called "Matching concept" of Accounting.
Net income
break even point
Loss or a deficit.
loss
Matching revenues and expenses is called "Matching concept" of Accounting.
A business or company has expenses. Expenses include the costs of goods and services that are used in the process of earning revenues.
Net income
cost center
The process of recording transactions , revenues and expenses on a company's books, and the reconciling thereof is called balancing.
expenses
break even point
Yes revenues and expenses are part of income statement and difference between revenue and expenses is called net income or loss.
The difference, on a yearly basis, between the budget (expenses) for the federal government of the United States and revenues (income). When the expenses are more than the income, the difference is called the deficit. When the income is more than the expenses, the difference is called a surplus.
The difference, on a yearly basis, between the budget (expenses) for the federal government of the United States and revenues (income). When the expenses are more than the income, the difference is called the deficit. When the income is more than the expenses, the difference is called a surplus.