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Answer Posted / kalyani
Increase in the assets of an organization or the decrease
in liabilities during an accounting period, primarily from
the organization's operating activities. This may include
sales of products (sales), rendering of services
(revenues), and earnings from interest, dividends, lease
income, and royalties.
2. In Government Accounting, the gross receipts and
receivables from taxes, customs, etc., without
consideration of appropriations and allotments.
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