Revenues:

REVENUES:

Revenue Income: Income earned by the business through sales of goods and servcices. These can be shown as the examples down below:

- Cash sales which are sales paid at time of purchase.

- Credit sales which are sales through credit.

- Commission which is a percentage earned on selling other goods.

- Interest being received and earned as savings.

- Rent which has been received on lands and buildings.

- Discounts received for paying a reduced price for a purchased asset.

Revenue Expenditure: The day to day expendure which can help to generate revenue.

- Inventory can be shown as stock, raw materials that have value added and are able to generate revenue and variable costs which can be used for goods.

- Rent can be used as fixed costs but not gaining a fixed premise.

- Interest can be shown as fixed costs unless…