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Answer Posted / najeeb
Gross amount received or receivable against any service or exchange of Goods is called as Revenue. It includes Expenses incurred on that service/Goods and Profit earned on it...
For example if Amount received/receivable against any service is Rs.100 and expenditure incurred on it is Rs.80, than Rs.100 is Revenue, Rs.80 is Cost/Expense and Rs.20 is Income/Profit...
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