Concept of revenue
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Posted by Shivangi Dutta 4 years, 11 months ago
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Yogita Ingle 4 years, 11 months ago
The money income which a producer gets from the sale of his product is known as revenue of the firm. It is also called sale proceeds of the firm.
The concept of revenue should not be confused with the concept of profit. Profit of a firm is estimated as the difference between revenue and cost related to the production of a commodity (Profit = Revenue – Cost).
Revenue has three aspects:
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