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Essay: Answer the following questions in a separate 1 whole sheet of paper or bond paper long size. 1. If you are engage in business,
Essay: Answer the following questions in a separate 1 whole sheet of paper or bond paper long size. 1. If you are engage in business, illustrate how revenue or income are made. 2. If you are engage in business, illustrate how an expense is made.3. If you are the owner of the business, is payment of employee salaries an expense? Why? 4. Compare revenue to income. Illustrate an example if necessary. 5. Explain the process of computing the Net Income or net loss
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