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.
The terms profit and income are largely interchangeable when discussing net and gross figures, although there is a real difference between net income and net profit after taxes.Gross vs. Net. No matter what the context, gross numbers are always used in the calculation of net numbers.For business accounting, gross income includes all revenue that a company earns over the course of the year. Gross income incorporates all cash, checks, credit charges, rents, interest earned and dividends, among others.he terms profit and income are largely interchangeable when discussing net and gross figures, although there is a real difference between net income and net profit after taxes. Gross vs. Net.