Understanding Business with Connect Access Card
Understanding Business with Connect Access Card
12th Edition
ISBN: 9781260277142
Author: William Nickels, James McHugh, Susan McHugh
Publisher: McGraw-Hill Education
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Chapter 17.3, Problem 10TP
Summary Introduction

To discuss: The difference between revenue and income.

Introduction: Revenue is the gross receivables of the company for the supply of goods or provision of services.

Income is the earning of an organization; income is calculated by deducting COGS, operating expenses and taxes from revenue.

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