| ▲ | quietbritishjim 4 hours ago | |
> Business tax is assessed on income. Income (in a business) is another word for revenue. I think you meant: business tax is assessed on profit. | ||
| ▲ | Maxatar 3 hours ago | parent | next [-] | |
In the U.S. income is defined as revenue minus expenses: https://en.wikipedia.org/wiki/Income_(United_States_legal_de... | ||
| ▲ | loeg 3 hours ago | parent | prev | next [-] | |
No, my usage was correct and unambiguous. Describing income as revenue is incorrect. https://www.investopedia.com/ask/answers/122214/what-differe... | ||
| ▲ | beezle 3 hours ago | parent | prev [-] | |
This is incorrect as anyone who has looked at a financial statement or taken a first level accounting class will know - Revenue is the top line, the gross income and lastly net income, the two reflecting the removal of various costs/expenses as per GAAP. | ||