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Unearned income (revenue)
Revenue is the money you collect for providing a product or service.
Revenue is different from earnings, which is what's left of your revenue after subtracting the costs of producing or delivering the product or service and any taxes you paid on the amount you took in.
When corporations release their financial statements, those that provide services, such as power or telecommunications companies, describe their income as revenues, while those that manufacture products, such as lightbulbs or books, describe their income as sales.
The money a government collects in taxes is also called revenue. The US body that collects those taxes is called the Internal Revenue Service (IRS). In the United Kingdom, it's Inland Revenue.
- the money received by a firm from the sale of its output of GOODS or SERVICES (SALES REVENUE).
- money received by the government from TAXATION.
revenuethe money received by a firm from selling its output of GOODS or SERVICES (SALES REVENUE) or money received by government from TAXATION. See AVERAGE REVENUE, MARGINAL REVENUE, TOTAL REVENUE.
The total rent, sales, or earnings of a company. When negotiating for the purchase of income-producing property, be sure to inquire about the seller's definition of revenue rather than make the assumption that the seller is using the correct terminology to describe figures supplied to you. Contrast with income.