top button
Flag Notify
    Connect to us
      Facebook Login
      Site Registration

Facebook Login
Site Registration

What is the difference between revenue, income, and gain?

+1 vote
14 views
What is the difference between revenue, income, and gain?
posted Jun 22, 2017 by Anurag Kashyap

Share this question
Facebook Share Button Twitter Share Button LinkedIn Share Button

1 Answer

0 votes

Revenue is the amount earned from a company's main activities such as selling merchandise or providing services.

A gain results from a peripheral activity, such as selling the old delivery truck. A gain is the amount received that is in excess of the asset's carrying amount (book value). For example, if the company receives $3,000 for the truck, and its carry amount was $600, the company will report a gain of $2,400.

Income is sometimes used instead of the word revenue: some people refer to the rent they receive as rent income. Generally, accountants use the word income to mean "net of revenues and expenses." For example, a retailer's income from operations is sales minus the cost of goods sold minus operating expenses.

answer Jun 23, 2017 by Raghav Choudhary
Contact Us
+91 9880187415
sales@queryhome.net
support@queryhome.net
#280, 3rd floor, 5th Main
6th Sector, HSR Layout
Bangalore-560102
Karnataka INDIA.
QUERY HOME
...