Respuesta :
Todd Sweeney, an artist most likely should recognize their revenue when the barbershop sells the painting.
What are the key differences between Sales and revenue?
- Although revenue and sales are sometimes referred to as the same thing, they can be distinguished when viewed in the context of accounting.
- Sales are determined by multiplying the total number of goods or services sold by their price, whereas revenue is determined by adding sales to other sources of income the company generates.
- Sales can occur without generating income, but revenues always follow sales. As an illustration, consider a startup business that generates some revenue by renting out space to other startups, but hasn't yet generated any sales because it hasn't sold any actual products.
- Sales demonstrate a company's capacity to sell its goods/services, whereas revenue demonstrates its ingenuity in generating income.
To learn more about Sales and revenue
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