how do you know if its a net income or net loss?

Question

i know how to figure it out, by subtracting revenues and expenses, but how do you know if it is a loss or income?

Answer 1

If revenues are higher than expenses, it's a gain. If expenses are higher, it's a loss.

Answer 2

If your revenue is higher than your expenses, you have income. If not, you have a loss.

Answer 3

if you have some change left over...that's income....if you have lint in the bottom of your pockets...it was definitely a loss.....peace.