Question

what is income ? how it is difference from receipt​

Answer 1

Answer:

Income is sum of receipt in some cases. While we talk in accounting sense, income is different from receipt by the classification of themselves. Income have its opposite that is expense and receipt have its opposite that is payment.

Answer 2

Income is the consumption and saving opportunity gained by an entity within a specified timeframe, which is generally expressed in monetary terms.and receipt is a document acknowledging that a person has received money or property in payment following a sale or other transfer of goods or provision of a service. All receipts must have the date of purchase on them. please mark it as brain list answers please please please please please