income account

noun

Definition of income account

: a financial statement of a business showing the details of revenues, costs, expenses, losses, and profits for a given period

— called also income statement

Examples of income account in a Sentence

Recent Examples on the Web

Last year saw music sales rise by 8.1 percent to $17.3 billion and total digital income account for more than half of all trade revenue (54 percent) for the first time. — Richard Smirke, Billboard, "IFPI Global Report 2018: Music Sales Rise for Third Straight Year as Streaming Becomes Biggest Revenue Source," 24 Apr. 2018 The $64 billion highlighted in the report comprised $48.7 billion in the principal portion of the fund and $15.3 billion in the earnings reserve income account. — Author: Elwood Brehmer, Anchorage Daily News, "Permanent Fund value hits $64B at fiscal year midpoint," 8 Feb. 2018

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