How will you define revenues and expenses ? (2024)

Revenue-These are the amounts of the business earned by selling its products or providing services to customers,such as commission,interest ,dividends,royalties,rent received etc.
Expenses-Costs incurred by a business in the process of earning revenue are known as expenses.

Such as rent,wages,salaries,interest,cost of heater,light and water,telephone etc.

How will you define revenues and expenses ? (2024)
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