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

  • Conversion costs
    Conversion costs consists of the sum of labor costs and overhead costs. In other words, ...
  • Owner’s equity
    The ownership claim on total assets is owner’s equity. It is equal to total assets minus ...
  • Paid-in capital
    Paid-in capital is the total amount of cash and other assets paid in to the corporation ...
  • Direct materials budget
    The direct materials budget shows both the quantity and cost of direct materials to be ...
  • Administrative expenses
    Administrative expenses (sometimes called general expenses) are those expenses which are ...