What is Revenue? Types of revenue.

 Revenue is the total repeats of the firm by selling output. It is the amount of money, which the firm receives by the sale of its output in the market, the receipts obtained are the revenue of the firm. Types of revenue There are three core concepts of revenues in economics. They are: a. Total revenue … Read more

Provision | Meaning, Objective

A provision is the sum of amount set aside by charging against the profit ans loss account. It is created for meeting a known loss or liability. It is maintained for meeting an anticipated loss or liability of uncertain amount.  Meaning of Provision Search amount of anticipated loss liability can only be estimated. If the present … Read more

What is Secret Reserve? Meaning, Objective, Advantages, Disadvantages

Meaning Of Secret Reserve  A reserve created with a view to strengthening the financial position of a business without explicitly showing its books of account is called a secret reserve. The hidden reserve is not shown in the balance sheet. It is known as internal reserve. One way of creating it by showing the figure of net profit marks … Read more