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What is meant by income in a business?

Answer and explanation

Correct answer: Money received from selling goods or services

Business income is the money earned or received from business activities, especially by selling goods or providing services. Borrowed money is a loan and creates an obligation to repay; production cost is an expense, not income; and tax is a payment made to the government. Income should also not be confused with profit, because profit is generally what remains after expenses are deducted from income.

Related tags

Business IncomeSalesEntrepreneurshipIntroduction To EntrepreneurshipEntrepreneurial Skills IArtificial IntelligenceClass 9 Mcq

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