Income (Net Income)

Net Income is the difference between revenue and the cost or expenses incurred by a business in a particular accounting period. It is also known as the profit of a business. Income leads to an increase in the value of assets in a business.

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Related Terms

• Income (Net Income)
• Income Summary Account
• Inflation
• Insolvency
• Insurance
• Invoice
• Investments
• Inventory
• Intangible Assets