Answer to Question #170776 in Accounting for Milan

Question #170776

What is Gross Income?


What is Gross Revenue?



1
Expert's answer
2021-03-12T07:22:14-0500

For households and individuals, gross income is the sum of all wages, salaries, profits, interest payments, rents, and other forms of earnings, before any deductions or taxes.


Gross revenue is the total amount of sales recognized for a reporting period, prior to any deductions.  



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