an account maintained for a particular item of revenue or income.
Also called profit and loss account. a summary account for income and expenditures, used in closing the ledger.
Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2023
How to use income account in a sentence
For the sake of lucidity, I keep the expense account and the income account distinct.The Teacher | George Herbert Palmer
The income account of the Nation is in a most satisfactory condition.State of the Union Addresses of Theodore Roosevelt | Theodore Roosevelt