x CLOSE
- A
- Accrual Basis Accounting
- Amortization
- Assets
- Audit
- Audit Trail
- B
- BadDebts
- BalanceSheet
- C
- Capital or Equity
- Cash Basis Accounting
- Cash Flow
- Closing Balance
- Contra Entries
- Cost ofGoodsSold
- Credit
- CreditNote
- D
- Debit
- DebitNote
- Deferred Revenue
- Depreciation
- Double Entry System
- Drawings
- E
- Expense
- G
- Goodwill
- Gross Profit / Loss
- I
- Income (Net Income)
- Invoice
- J
- Journal
- L
- Ledger
- Liability
- Liquidity
- N
- Net Profit / Loss
- O
- Opening Balance
- Operating Expenses
- Operating Income
- P
- Profit and Loss Statement
- R
- Reconciliation
- Recurring Journal
- Retained Earnings
- Revenue
- S
- SingleEntrySystem
- Stock
- SundryCreditor
- SundryDebtor
- SuspenseAccount
- T
- Trading Account
- TrialBalance
- Types of Accounts
- U
- Undeposited Funds Account
- V
- Voucher
- W
- WriteDown
- WriteOff
Net Income is the difference between revenue and the cost or expenses incurred by a business in a particular accounting period. It is also known as the profit of a business. Income leads to an increase in the value of assets in a business.
Related Terms
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