income account

noun

: a financial statement of a business showing the details of revenues, costs, expenses, losses, and profits for a given period

called also income statement

Example Sentences

Recent Examples on the Web

The bottom fifth of households by income account for just 9% of total consumption, Ian Shepherdson, chief economist of Pantheon Macroeconomics, said. —Medora Lee, USA TODAY, 1 June 2022

Your race or family income account for at least 20 percent of your health status. —Robert Pearl, Forbes, 11 Oct. 2021

But, income accounts for less than half the difference in spending on children between married parents and unmarried parents who live together. —Daniel Schneider, The Conversation, 17 Sep. 2019

Last year saw music sales rise by 8.1 percent to $17.3 billion and total digital income account for more than half of all trade revenue (54 percent) for the first time. —Richard Smirke, Billboard, 24 Apr. 2018

The $64 billion highlighted in the report comprised $48.7 billion in the principal portion of the fund and $15.3 billion in the earnings reserve income account. —Author: Elwood Brehmer, Anchorage Daily News, 8 Feb. 2018

Word History

First Known Use

1869, in the meaning defined above