biology daily - the biology and biochemistry encyclopedia
biology daily articles and research Encyclopedia Dictionary Forums biology research links Weblinks Pictures Articles Blogs Newsletter

Net income

Net income is equal to the income that a firm can get after subtracting Cost of goods sold, sales discounts, sales returns and allowances (the above three items are all only for a merchandizing company) and expenses from the total revenue.

To make it simple:

Net income = Revenue - (Cost of goods sold - sales discounts - sales returns and allowances) - expenses


05-27-2008 11:01:51
The contents of this article are licensed from Wikipedia.org under the GNU Free Documentation License. How to see transparent copy
BiologyDaily.com 2005. Legal info   Privacy