Definition

Net income & net loss

Net income results when revenues exceed expenses. A net loss occurs when expenses exceed revenues.

Share it:  Cite

More from this Section

  • Dirty Surplus Accounting
    Dirty Surplus Accounting is the process of reporting income items as part of equity rather ...
  • Standards
    Standards are common in business. Those imposed by government agencies are often called ...
  • Materials requisition slip
    Materials requisition slip refers to a document authorizing the issuance of raw materials ...
  • Total quality management (TQM)
    Total quality management (TQM) systems implemented to reduce defects in finished products ...
  • Net income & net loss
    Net income results when revenues exceed expenses. A net loss occurs when expenses exceed ...