income account

American  

noun

1. an account maintained for a particular item of revenue or income.

2. Also called profit and loss account.  a summary account for income and expenditures, used in closing the ledger.

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Etymology

Origin of income account

First recorded in 1865–70

Example Sentences

With all of this, is any offshore income, account or trust still secret?

From Forbes • Oct. 23, 2013

Next year's national income account budget: $121.5 billion, an increase of $2.4 billion from the current year.

From Time Magazine Archive

One & only outsider ever to wiggle into this inner sanctum was a New York Times reporter who in 1938 unearthed a complete ten-year income account and balance sheet from moldy court records.

From Time Magazine Archive

But for the last two years President Behn has had to leave Spain out of his income account.

From Time Magazine Archive

Last week, with the appearance of the 1929 balance sheet and income account, statisticians were trying to figure out just what Ford Motor Co. would cost now.

From Time Magazine Archive