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 Revenue and Profit. Gross revenue is closely tied to net income or profit. Net Income is equal to gross revenue minus the total expenses or costs a business pays during a certain period of time. For example, if a companyâs monthly gross revenue is $80,000 and its total monthly expenses equal $50,000, its monthly profit is $30,000.