Question

Excess of expenses over income

Answer 1

Answer:

Net loss

Explanation:

Net loss is the amount of money the company lost during the period. This is the negative amount of cash that is left over after all the expenses have been paid during the period. If total revenues were greater than total expenses, the company would have net income instead of net loss.

So it is understood that whenever expenses are more than income in a business the amount is a loss, a net loss.

Answer 2

Answer:

Net income is the excess of revenue over expenses net loss is the excess of expenses over revenue _______income statement of earnings or the profit and loss statement, shows revenue earned and expenses incurred for a period of time.