ECONOMICS
PROFIT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Income from the sales of goods and services
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Income from the cost of goods and services
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The money made on products
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Cash coming into the business
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Detailed explanation-1: -Revenue is the money generated from normal business operations, calculated as the average sales price times the number of units sold. It is the top line (or gross income) figure from which costs are subtracted to determine net income. Revenue is also known as sales on the income statement.
Detailed explanation-2: -When comparing revenue vs income you should know that “revenue” refers to the total amount of money a company generates before removing any expenses. “Income”, on the other hand, is equal to revenues minus the costs of doing business, such as depreciation, interest, taxes, and other expenses.
Detailed explanation-3: -Sales revenue is the income received by a company from its sales of goods or the provision of services. In accounting, the terms “sales” and “revenue” can be, and often are, used interchangeably to mean the same thing. It is important to note that revenue does not necessarily mean cash received.
Detailed explanation-4: -Service The provision of the service results in the so-called revenue or commission revenue, and companies that provide a product, the result of which is sales revenue.
Detailed explanation-5: -Types of revenue include: The sale of goods, products, or merchandise. The sale of services, such as consulting. Rental income from a commercial property (notice the use of “income”) The sale of tickets to a concert. Interest income from lending.