What are the three types of revenue on an income statement? Explain each.

Question

Question

Answer 1

Answer #1

	Three types of revenue are:

1)	Service Revenue :	Such type of revenue is earned by an entity by providing services to it's clients
2)	Interest Revenue :	Such type of revenue is earned by an entity by making investments in bonds, debentures etc.
3)	Rent Revenue :	Such type of revenue is earned by an entity by renting any owned premises to another entity for performing business

Answer 2

Similar Homework Help Questions

What are the three types of firms? Explain the major advantages and disadvantages of each. The...

What are the three types of firms? Explain the major advantages and disadvantages of each. The three types of firms are O A. non-profit, non-governmental, and governmental O B. proprietorship, non-profit,, and corporation O C. governmental, partnership, and corporation O D. proprietorship, partnership, and corporation
1. Briefly explain the general purpose of each of the three financial statements (the income statement,...

1. Briefly explain the general purpose of each of the three financial statements (the income statement, the balance sheet and the cash flow statement) and the usefulness of each of them for Quartz Antique Furniture Ltd. (20 marks)
What are the three categories of revenue (taxes)? What are the types of spending?

What are the three categories of revenue (taxes)? What are the types of spending?

Identify and explain what are the four financial statements. 1.Income Statement 2. Statement of Retained Earnings...

Identify and explain what are the four financial statements. 1.Income Statement 2. Statement of Retained Earnings 3. Balance Sheet 4. Statement of Cash Flow What are the types of accounts included on each statement. Identify the relationship between each statement. Cite your sources (APA).
What is the purpose of Financial Statement Analysis? How do the three types of financial statement...

What is the purpose of Financial Statement Analysis? How do the three types of financial statement analysis differ from each other and when is each used? Types- Vertical, Horizontal, and Ratio Looking for an original answer. Please don't cut and paste. If you use a source, please provide link or source for citation. Thank You.
What is the total revenue, total costs of revenue and net income for each year for...

What is the total revenue, total costs of revenue and net income for each year for BankUnited? How have these numbers changed over the three years and what could be some reasons why these numbers have changed the way they have? In addition, what is the beta ratio?

What are the types of unemployment? Explain each.

What are the types of unemployment? Explain each.
2. What are the three types of law that are relevant to auditors’ legal liability? Explain...

2. What are the three types of law that are relevant to auditors’ legal liability? Explain the causes of legal action under each type.
A contribution income statement for the Nantucket Inn is shown below. (Ignore income taxes.) Revenue $2,200,000...

A contribution income statement for the Nantucket Inn is shown below. (Ignore income taxes.) Revenue $2,200,000 Less: Variable expenses 1,474,000 Contribution margin $ 726,000 Less: Fixed expenses 484,000 Net income $ 242,000 Required: 1. Show the hotel's cost structure by indicating the percentage of the hotel's revenue represented by each item on the income statement 2. Suppose the hotel's revenue declines by 30 percent. Use the contribution-margin percentage to calculate the resulting decrease in net income. 3. What is the...

Explain how each of the three types of sums of squares relate to your research hypothesis...

Explain how each of the three types of sums of squares relate to your research hypothesis and/or observations.