income account

  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.

Origin of income account

First recorded in 1865–70

Words Nearby income account Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2023

How to use income account in a sentence