Income Revenue And Gain

Revenue can usually be calculated as the number of products sold multiplied by the price at which they were sold minus any relevant deductions from those sales such as discounts and returns.

Income revenue and gain. Revenue also known as gross sales is often referred to as the top. Revenue is total money earned by a company by doing various activities and income is total money left with the company after subtracting total expenses made by it from the total revenue generated. What is the difference between revenue income and gain. Revenue is the amount received by the business from selling main goods.

Gains for example gain on the disposal of an asset is the increase that a business experiences when it manages to sell a useless asset for more value that what it had previously estimated. Income and revenue are two different terms for a company but there is no difference between an income or revenue for the earning of an individual. Rather revenue is the term used to describe income earned through the provision of a business primary goods or services while expense is the term for a cost incurred in the process of producing. For example gain or income considered almost the same return and gain are two different terms but usually used to mean the same.

Another difference between income revenue and gains is that revenues arise from the ordinary activities of the entity and gains may or may not be from ordinary activities. Therefore i suggest that students should not be too strict about these terms and their meanings. Revenue is the total amount of income generated by the sale of goods or services related to the company s primary operations.