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Difference between payments and income?
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Difference between payments and income?
The difference between income and expenses is simple: income is the money your business takes in and expenses are what it spends money on. Your net income is generally your revenue, or all the money coming into your business, minus all of your expenses. If that number is positive, your business is making a profit.
Community Answer
Difference between payments and income?
Payment::
It is an expenditure for a business.
It means a trade of value from one person to another person for goods, services or legal obligations.
It includes:: Cash deposit, cheque, debit card, credit card, bill of exchange, mail transfer etc.
Income::;:
It is a revenue for a business which it earns from selling of goods and services.
It includes:: wages, salary, dividend, interest, capital gain etc.
Thanks.
It is an expenditure for a business.
It means a trade of value from one person to another person for goods, services or legal obligations.
It includes:: Cash deposit, cheque, debit card, credit card, bill of exchange, mail transfer etc.
Income::;:
It is a revenue for a business which it earns from selling of goods and services.
It includes:: wages, salary, dividend, interest, capital gain etc.
Thanks.
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Difference between payments and income?
Question Description
Difference between payments and income? for B Com 2024 is part of B Com preparation. The Question and answers have been prepared according to the B Com exam syllabus. Information about Difference between payments and income? covers all topics & solutions for B Com 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Difference between payments and income?.
Difference between payments and income? for B Com 2024 is part of B Com preparation. The Question and answers have been prepared according to the B Com exam syllabus. Information about Difference between payments and income? covers all topics & solutions for B Com 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Difference between payments and income?.
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