Accounting Dictionary
Net Income
Net Income is revenue minus expenses.
Let’s say a company bought shoes for $4,000 and sold them for $12,000. They paid a salesman $2,000 in commission. $12,000 in revenue -$4,000 for shoes -$2,000 in commissions =$6000 net income. Another name for Net Income is profit.
https://accounting.uworld.com/cpa-review/lc/accounting-dictionary/term/net-income/
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