EXPENSE Definition

EXPENSE is the amount of assets or services used during a period.

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UNBILLED REVENUE is revenue which had been recognized but which had not been billed to the purchaser(s).

INCOME AFTER TAXES is the net profit earned by the company after deducting all expenses like interest, depreciation and tax. PAT can be fully retained by a company to be used in the business. Dividends, if declared, are paid to the share holders from this residue.

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