ACCOUNTING TERMS - ACCOUNTING DICTIONARY - ACCOUNTING GLOSSARY
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INCOME THEORIES Definition
INCOME THEORIES try to identify the real profit of an organization. The difficulty here is that you need to define whose income you are measuring, and that limiting income measurements to things that can be given a price devalues goods and services that are difficult or impossible to price.
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BILLABLE HOURS is professional hours worked and billed to clients.
EXPENSE is the amount of assets or services used during a period.