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I have 2 questions:
1) what is the basic difference between revenue and income?
2) (a) Profit is the excess of income over expenditure.
(b) Profit is the excess of revenue over expenditure.
which of the above 2 statements would be regarded as correct?
Revenue is the total earned by the company from the sale of goods or services.
Depending on the context, income is sometimes used as just another word for revenue, or is sometimes used as another word for profit.