Accounting Dictionary - Letter R

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
Revenue
is an increase in assets (e.g., cash sale) or decrease in liabilities (e.g., recognition of unearned service revenue as earned revenue) resulting from operating activities of an entity. Revenue accounts normally have credit balances. Revenues are compared to expenses to calculate net income.
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