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Revenues are the value of assets received in exchange for products or services provided to customers as part of a business's main operations.
Expenses are costs incurred or the using up of assets that result from providing products or services to customers. Expenses can arise from increases in liabilities.
Art Kshlerin
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Is sales revenue an expense or asset?
Sales is a revenue not an expense or asset while difference between sales and expense is profit which is liability for business.
What is between revenue and expenditure?
revenue is income and expenditure is an expense
Is Commission a revenue or an expense?
if Commission is received then it is revenue but if commission is paid then it is expense, if commission is receivable then it is asset while if it is payable then it is liability.
What is revenue minus net income?
EXpense
What does Revenue less expense equal?
net income
The entry closing the Expense and Revenue Summary is a?
The entry closing the Expense and Revenue Summary is a?
Is sales revenue an expense or asset?
Sales is a revenue not an expense or asset while difference between sales and expense is profit which is liability for business.
What is between revenue and expenditure?
revenue is income and expenditure is an expense
What kind of expense is rent expense?
Rent expense is a Revenue expense and not a capital expense. It is a revenue expense because it recurs from year to year and is not an expense in purchasing a fixed asset. It is classified as a revenue expense also because it features in the income statement of each year and following the principle of accruals, the accountant must, make the necessary end of period adjustments to make sure that the the amount of rent expense that should have paid is charged against revenue and not just the actual cash paid.
Whats the antonym for revenue?
Expense.
Is Commission a revenue or an expense?
if Commission is received then it is revenue but if commission is paid then it is expense, if commission is receivable then it is asset while if it is payable then it is liability.
What is revenue minus net income?
EXpense
Would costs incurred for advertising be considered revenue or expense?
it is considered as a deferred expense.
Should investments be listed under expense or revenue in an income statement?
The money that you invest should be counted as an expense. The income from your investment would be considered revenue.
Is Purchase Discount revenue or expense?
Sales discount is not an expense account, but is also a deduction to an income statement. It is just a contra account of a revenue account particularly a sales revenue account.
Is expense debit or credit?
If revenue (income of money) is a credit, then an expense (outflow of money) is a debit.
What does Revenue less expense equal?
net income
