How will you define Revenue and Expenses?

1.	How will you define Revenue and Expenses?
Answer» 1. Revenue: These are the amounts earned by a business concern through sale of its products or providing services to customers. The common items of revenues are sales, commission received, rent received, interest received, etc. 2. Expenses: The amount spent in the process of earning revenue is termed as expenses. Examples are Wages, Salaries, rent, Interest paid, electricity charges, etc.

Answer»

1. Revenue:

These are the amounts earned by a business concern through sale of its products or providing services to customers. The common items of revenues are sales, commission received, rent received, interest received, etc.

2. Expenses:

The amount spent in the process of earning revenue is termed as expenses. Examples are Wages, Salaries, rent, Interest paid, electricity charges, etc.

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How will you define Revenue and Expenses?

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