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Income items and expenses differ on many fronts, but they also share conceptual proximity in some situations
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Is revenue part of an income statement?
Yes revenues and expenses are part of income statement and difference between revenue and expenses is called net income or loss.
What is the difference between Gross and net and taxable income?
Gross income: the overall income, from which expenses and tax are not yet deducted. Net income: the pure income, left after deducting all expenses and tax. Taxable income: the income before tax, deducted all expenses except tax.
What is the difference between loss and expences?
An expense is money you pay to but something, a good or a service.A loss is when you balance expenses against income and find out that there was less income than your expenses.
What is the journal entry for net income?
No journal entry for net income it is the difference between total expenses and total revenue and it is the balancing figure
When income exceeds expenses the difference is called?
penis
Are revenues the same as net income?
Revenues are earnings from sales of products and net income is the difference between revenues and expenses.
What is us deficite?
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.
What is the us deficit?
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.
Is revenue part of an income statement?
Yes revenues and expenses are part of income statement and difference between revenue and expenses is called net income or loss.
Difference between net income and gross income?
Gross income is the difference between revenue and direct expenses while net income is the income from all activities of business whether oprating activities or other activities.
What are the key differences between income and profit?
Income is what one receives; profit is whatever part of the income is left after all business expenses and costs are paid. So the difference between income and profit is the total of business expenses and costs.
What is the difference between Gross and net and taxable income?
Gross income: the overall income, from which expenses and tax are not yet deducted. Net income: the pure income, left after deducting all expenses and tax. Taxable income: the income before tax, deducted all expenses except tax.
What is the difference between loss and expences?
An expense is money you pay to but something, a good or a service.A loss is when you balance expenses against income and find out that there was less income than your expenses.
Basic difference between profit and income?
Income is the sum of all monies coming into the company. Profit is the income less the expenses incurred by the company.
What is the journal entry for net income?
No journal entry for net income it is the difference between total expenses and total revenue and it is the balancing figure
When income exceeds expenses the difference is called?
penis
Difference between net income and revenue?
Revenue is all the money a business brings in. Net income is revenue minus all the expenses of the business. Net income is profit.
