The difference between the selling price of goods or services sold to customers during a period and the cost (to the company) of the goods or services sold.

A chronological records of a company’s transactions.

The amount of resources consumed in the process of acquiring and selling goods and services.  It is not limited to those resources used to actually produce the goods and service, it can be supportive resources.  For example, paper clips have nothing to do with producing a widget, but they are still an expense of the