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I need one specific answer no diplomatic answers, please.
This is like short question answer, and I need to choose only one. So please let me know the correct answer, which one is correct or right to say? Gain on Income or Gain on Profit.
Gain on Income is the correct answer.
Both seem to be inaccurate because gain means increase in the value of something that is recorded at a lower value in our books and we get higher price for it. Income and profit are used interchangeably by accountants. But the terms gain on income or gain on profits are not used.
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