What is the term used to describe the income earned from the sale of goods or services?

The term that describes the income earned from the sale of goods or services is revenue. Revenue represents the total amount of money generated from business activities before any costs or expenses are deducted. It is a crucial indicator of a company's financial performance, as it reflects the effectiveness of its sales efforts and market demand for its products or services.

In business management, understanding revenue is vital for analyzing a company's operations and making informed financial decisions. The focus on this figure helps businesses assess their capacity to generate income and drive growth. While profit is often discussed in relation to revenue, profit specifically refers to the earnings remaining after all expenses, taxes, and costs have been subtracted from revenue. This distinction highlights why revenue is more accurately associated with the total income generated from sales.