The-definition.com

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

  • Dividends in arrears
    When preferred stock, is cumulative, preferred dividends not declared in a given period ...
  • Trademark /Trade names
    A trademark or trade name is a word, phrase, jingle, or symbol that identifies a particular ...
  • Honor of notes receivable
    A note is honored when its maker pays it in full at its maturity date. For an interest ...
  • Unpaid expenses
    Expenses incurred during the year but for which payment has not been made and will have ...
  • Allowance method
    The allowance method of accounting for bad debts involves estimating uncollectible accounts ...