Balanced and unbalanced budget (II)

Economics SSS 2 Third Term

WEEK 4

Balanced and unbalanced budget (II)

Performance Objectives

Student should be able to:

1. Define revenue
2. Highlight criteria for revenue allocation
3. Identify problems of revenue allocation in Nigeria...

Content

Definition of revenue

Revenue is the income that a business has from its normal business activities, usually from the sale of goods and services to customers. Revenue is also referred to as sales or turnover. Some companies receive revenue from interest, royalties, or other fees. Revenue may refer to business income in general, or it may refer to the amount, in a monetary unit, earned during a period. In more formal usage, revenue is a calculation or estimation of periodic income based on a particular standard…