what is the difference between Revenue, Profit, And Income

Earners make money this way by meeting the short-term needs of a few. If more specifically say, Revenue is money earned by providing goods and services over some time.

example

revenue on service

• Providing physical or mental work (gambling & job(salary, wages))
• Brokerage and commission

revenue on goods(assets)

• Income from cash (interest and dividend)
• rent (vehicle & building)

Earners make money this way by meeting the needs of a few. If more specifically say, profit is money earned by selling goods. Accountants are often not required to calculate revenue but an accountant is essential if profits are to be calculated accurately.

example

profi on goods

• Selling goods
• Selling assets

1 what is non-profit ?

Most people think that there are two ways to make money but there is a different way, and this way earners do not have to provide them with goods and services and there is no need to sell goods. That is the non-profit system.

example

• donations
• inherited property

Income is the calculation of revenue and profit for an individual or company for a year, in short, income is the term for annual earnings, you already know the reason for calculating this! That is right, this is for calculating taxes.

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