What is the difference between revenue and income?

Question

ObjectiveMcq · Accepted Answer

Revenue is the gross inflow of economic benefits arising from ordinary activities of an entity, while income is revenue minus expenses

ObjectiveMcq · Answer

Revenue is the total equity of an entity, while income is the net income of an entity

ObjectiveMcq · Answer

Revenue is the net inflow of economic benefits arising from ordinary activities of an entity, while income is revenue plus expenses

ObjectiveMcq · Answer

Revenue is the total assets of an entity, while income is the total liabilities of an entity