Perhaps the most humiliating portion of the treaty for the defeated Germany was Article 231, commonly known as the War Guilt Clause, which forced Germany to accept complete responsibility for initiating World War I.
For a company, net income is the residual amount of earnings after all expenses have been deducted from sales. In short, gross income is an intermediate earnings figure before all expenses are included, and net income is the final amount of profit or loss after all expenses are included. For example, a business has sales of $1,000,000, cost of goods sold of $600,000, and selling expenses of $250,000.
Gross and Net Gross refers to the total and Net refers to the part of the total that really matters. Gross vs Net Income In accounting, for a P&L (profit and loss statement â¦, Gross profit, or Gross income, or Gross operating profit is the difference between revenue and the cost of making a product or providing a service, before deducting overheads,payroll, taxation, and interest payments.