revenue minus expenses is equal to which of the following?\nretained earnings\nnet income\ngross pay
revenue minus expenses is equal to which of the following?\nretained earnings\nnet income\ngross pay
Answer
Brief Explanations:
Revenue minus expenses is a fundamental accounting formula. Retained earnings is a cumulative amount that includes net income but also factors in dividends and prior - period adjustments. Gross pay is related to employee compensation before deductions. Net income is directly calculated as revenue minus expenses.
Answer:
net income