Question

what do you mean by revenue? Explain the bases on which the recenue is ascertained

Answer 1

Revenue is the amount of money that a company actually receives during a specific period, including discounts and deductions for returned merchandise. 

Answer 2

A income generated from sale of goods or services, or any other use of capital or assets, associated with the main operations of an organization before any costs or expenses are deducted. Revenue is shown usually as the top item in an income (profit and loss) statement from which all charges, costs, and expenses are subtracted to arrive at net income. Also called sales, or (in the UK) turnover.