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INCOME | CREDITOR | DEBTOR

By Pashupati Thakur

INCOME

These income are those income which have to receive for selling goods and services.

Type of income:

  • Direct Income
These income are those income which have to receive to supplier for direct selling to cash.

For example
  1. Sales for cash
  2. Assets for cash
  3. Service for cash, etc.
  • Indirect Income
These income are those income which have to receive indirectly.

For example
  1. Discount receive
  2. Interest receive
  3. Commission
  4. Bonus
  5. Gift, etc.
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Creditor:

A person who takes the cash and gives the goods.

Debtor:

A person who gives the cash and receive the goods.



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