As we delve into the world of finance, it is important to understand the distinction between receipts from business transactions and deductible business expenses. While receipts refer to the amount of money received by a business through its operations, deductible expenses are those that can be deducted from the total revenue for tax purposes. It is important to note that these expenses may be subject to adjustments for tax purposes. By understanding this difference, we can better navigate the complexities of business finance.
