Question

In general terms, what are revenues and expenses? How are they related in the determination of an enterprise’s net income or net loss?
please answer fast ​

Answer 1

are revenues and expenses are earlier taken on the basis of vat but today after coming gst in 2017 it was taken on the basis of gst.

they are related as they are accommodate in net gain or loss in stock market

Answer 2

revenue is the term used to describe income earned through the provision of a business' primary goods or services, while expense is the term for a cost incurred in the process of producing or offering a primary business operation.

Your net income or net loss equals your total revenues minus your total expenses for an accounting period. If your revenues are greater than expenses, you have net income. If revenues are less than expenses, you have a net loss.

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