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Revenue term in accounting. Often the term income is used instead of revenues. Terms similar to revenue. For example if a new company sold 75 000 of goods in december but allows the customer to pay 30 days later the company s december sales are 75 000 even though no cash was received in december. Revenue is listed at the top of the income statement.
Examples of revenue accounts include. In other words revenue is income earned by the company from its business activities. Revenue is also known as sales. The best way to calculate a company s revenue during an accounting period year month etc is to sum up the amounts earned as opposed to the amounts of cash that were received.
There are many different types of revenues including product sales consulting fees and other services rent and even commission based fees. A variety of expenses related to the cost of goods sold and selling general and administrative expenses are then subtracted from revenue to arrive at the net profit of a business. A survey produced quarterly by the census bureau that provides estimates of total operating revenue and percentage of revenue by customer class for communication key.
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