The inflow of cash or other assets that a business receives when it provides goods or services to customers is referred to as revenues.
What is Revenue?
- Revenue, which is determined by multiplying the average sales price by the quantity of units sold, is the money made from regular business operations.
- The top line (or gross income) figure is what is used to calculate net income by deducting costs. Sales are another name for revenue in the income statement.
- Non-operating income is irregular or irregular money that comes from other sources (e.g., lawsuit proceeds).
- Governments, nonprofit organizations, and private persons are examples of non-business entities that also declare revenue, albeit their methods and resources vary.
- While income or profit includes the costs incurred in generating revenue and reports net (not gross) results, revenue simply refers to the proceeds from sales.
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