Define revenue, expnses,purchases, sales, stock
Answers
Answer:
revenue :- money regularly received by a government, company, etc.
expenses :- money that is spent for a particular purpose
purchases:- the action of buying something
sales:- the action of selling or being sold; the occasion when something is sold
stock :- the supply of things that a shop, etc. has for sale
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ANSWER
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1.Revenue :- Revenue means the receipt or return received by the firm. It is the sum of money received from the costumers or clients of a business as a result of sale of goods or services to them.
2.Expenses :- Expenses is the monetary value of inputs or resources consumed. According to the American accounting association it is the expired cost directly or indirectly given to a flow of goods and services into the market of related operations.
3.Purchases :- Purchases means the total amount of goods purchased by the firm on cash or credit is known as purchases.
4.Sales :- It means the amount of goods sold to the costumers on cash and credit. Sales do not include the value of a fixed asset sold by the company.
5.Stock :- Stock means the goods lying unsold on a particular date on which the balance sheet is prepared.To ascertain the value of stock, it is necessery to make a complete list of all the items in the godown.
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