MyWikiBiz, Author Your Legacy — Wednesday May 29, 2024
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, 21:01, 23 May 2010
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− | '''Net income''' is equal to the [[income]] that a firm has after subtracting costs and [[expense]]s from the total [[revenue]]. Expenses will typically include [[tax expense]]. For a [[merchandising]] [[company]], subtracted costs may be the cost of goods sold, sales discounts, and sales returns and allowances. For a product company [[advertising]], [[manufacturing]], and design and development costs are included. | + | '''Net income''' is equal to the [[income]] that a firm has after subtracting costs and [[expense]]s from the total [[revenue]]. Expenses will typically include [[tax]] expense. For a [[Merchandise|merchandising]] [[company]], subtracted costs may be the cost of goods sold, sales discounts, and sales returns and allowances. For a product company [[advertising]], [[manufacturing]], and design and development costs are included. |
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| Net income is sometimes called the '''bottom line''' because it is typically found on the last line of a company's [[income statement]]. | | Net income is sometimes called the '''bottom line''' because it is typically found on the last line of a company's [[income statement]]. |
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| Another term that is closely related to this is top line. As the Total Revenue forms the first line of the account statement, it is often called top line. | | Another term that is closely related to this is top line. As the Total Revenue forms the first line of the account statement, it is often called top line. |
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| + | == ASK query by Keyword == |
| + | {{KeywordList|net income}} |