savings
numbers greater than one!
numbers greater than 0 called positive integers.
An Inequality
Same as it is.
loss
Net Income : When Revenue is greater than Expenses. Net loss : When Expenses are greater than Revenue. References : Basic Accounting (111) Book .
When a firm spends more than it gains in revenue it is called a LOSS.
loss
profit
jh
Loss or a deficit.
loss
A business (company or individual) earns money - called earning or revenue. To earn this, the entity incurs expenses - such as material, salaries, telecom costs. When you subtract the expenses from the revenue, the result is called 'profit', if it is positive, and 'loss', if negative. So the difference is - expenses are the costs incurred by a business, and loss is the difference between earnings and expenses, (if expenses are more than revenues).
revenue account are placed on the post closing trial balance
There is no profit.
When your expenses are more than your revenues, the revenue account will be a debit balance. You have lost money!