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True or False The Federal income tax on corpoations generates more revenue than the Federal income tax on individuals?
false
Is fee income revenue?
Yes, fee income is considered a form of revenue. It refers to the earnings generated by a business from services provided, rather than from the sale of goods. This type of income is common in industries such as finance, healthcare, and consulting, where companies charge fees for specific services rendered to clients. Overall, fee income contributes to a company's overall revenue stream.
What is service revenue on an income statement?
Generally Service Revenue is nothing more than Revenue made by providing a service. If you paint a persons house for $5,000, you provided a service and the Revenue you brought in due to that service is considered SERVICE REVENUE.
Is gain on disposal a revenue?
Gain on disposal is not considered revenue in the traditional sense. It refers to the profit made from selling an asset for more than its book value, typically classified as a non-operating income. While it contributes to the overall profitability of a company, it is separate from the regular revenue generated from core business operations.
When people develop a first draft of their revenue expense budgets what do they often discover?
They have more total expenses than they have total income.
True or False The Federal income tax on corpoations generates more revenue than the Federal income tax on individuals?
false
Is rental income operating or non operating revenue?
It depends on the business. If the company is in the business of renting apartments, then it would be operating income. But on the contrast if the company is renting out an extra room for some extra cash than no.
Is fee income revenue?
Yes, fee income is considered a form of revenue. It refers to the earnings generated by a business from services provided, rather than from the sale of goods. This type of income is common in industries such as finance, healthcare, and consulting, where companies charge fees for specific services rendered to clients. Overall, fee income contributes to a company's overall revenue stream.
Distinguish between capital and revenue expenditure?
Capital expenditure refers to an expense resulting in acquisition of an asset or increase in the earning capacity of a business. Revenue expenditure is defined as an expense that is essential for the maintenance of earning capacity of a business.
What is service revenue on an income statement?
Generally Service Revenue is nothing more than Revenue made by providing a service. If you paint a persons house for $5,000, you provided a service and the Revenue you brought in due to that service is considered SERVICE REVENUE.
Is gain on disposal a revenue?
Gain on disposal is not considered revenue in the traditional sense. It refers to the profit made from selling an asset for more than its book value, typically classified as a non-operating income. While it contributes to the overall profitability of a company, it is separate from the regular revenue generated from core business operations.
What is the average yearly income for an insurance company?
The income or revenue of an entire insurance company varies widely based on the size of the company. MetLife reported $2+ billion in earnings for 2009, much more than any local firm would see each year. The average yearly income of a typical insurance sales agent is $45,430 based on May 2008 statistics from the US Bureau of Labor Statistics.
When the total of the revenue section is more than the total of the expense section on a standard Income Statement what is the difference called?
net profit
What produces profit for a business?
Taking in more income (revenue) than is spent on costs, which include overhead, personnel, and cost of capital.
When people develop a first draft of their revenue expense budgets what do they often discover?
They have more total expenses than they have total income.
What is it called when your expenses are greater than your revenue on an income statement?
loss
Do 0844 numbers generate income?
In the UK, these numbers usually cost more than a normal phone call and can indeed generate income. Although they can cost up 40p/min to call, the revenue generated for the organisation being called will not be more than 5p/min, with the remainder retained by the telephone companies involved in connecting the call. Not all 0844 numbers pass on income to the business using them; sometimes the income is retained by the telephone company supplying the service. For example, a telephone company may often offer advanced call handling services, queuing, reporting, etc. to the business in return for the revenue they take from incoming calls. Subjectively, this could still be considered as generating income, as the company is receiving enhanced services it would otherwise have to pay the market rate for.
