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dear sir what is the different among Revenue, Income, Earning and Loan ?

my meant from income isnt Net Income but only income

plz provide with an examples :)

asked Jan 21, 2015 in Terminology in Accounts by rahimdad (60 points) 157 views

1 Answer

+1 vote

1.      Revenue:  It includes all incomes like sale receipts, interest, commission and brokerage etc.  These amounts are received as a result of business operations and it increases the capital of the owners.

2.      Income or Profit: The difference between revenue and expense is called as Income.

3.      Loan: Loan means money obtained from outside sources which is to be returned later on.

4.      Earning: Earning means income after tax.

answered Jan 21, 2015 by jbsclasses (3,971 points)