Answer :
Answer:
REVENUE
Explanation:
Total amount of money business takes in during a given period by selling goods and services is REVENUE
Eg : A good costing Rs 5 is sold for Rs 10 , So revenue = Rs 10 . In case of many goods quantity , Total Revenue = Price X Quantity - Eg if 5 such goods are sold, Total Revenue = 10 X 5 = 50 .
Revenue shouldn't be confused with Profit . Profit is the difference between Cost & Revenue. Above ex : Profit is Rs 10 - Rs 5 = Rs 5 per unit .
Also , Revenue may be recieved / due to be recieved (from debtors). However , revenue is recognised when the transaction is entered into , as per the accrual basis of accounting.