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March 18, 2026The Accounting Review

Business Income and National Income: A Contrast of Concepts.

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Authors

GMGilbert P. MaynardUniversity of Iowa

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Overview

This article contrasts business income and national income concepts, highlighting measurement standards and implications.

Key Points

  • The aim is to clarify the distinctions between business income and national income concepts.
  • Outlined the standards and principles of business income measurement.
  • Discussed national income accounting and its focus on product creation.
  • Explained the accounting recognition timing differences for revenue and product.
  • Identified fundamental differences in how business income and national income are measured.
  • Clarified that national income reflects costs of production factors, while business income is based more on sales.
  • Highlighted that gains from asset exchanges are included in business revenue differently than in national income.

Cite This Study

Gilbert P. Maynard (1952) studied this question.

synapsesocial.com/papers/69ba429c4e9516ffd37a30e7https://doi.org/10.2308/tar-7077664
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Also Consider

Synapse has enriched 5 closely related papers on similar clinical questions. Consider them for comparative context:

  1. 1THE NATIONAL INCOME AND PRODUCT ACCOUNT.1953
  2. 2The Measurement of Economic Activity: An Introduction Accounting Course.1971
  3. 3FIXED ASSETS AND CURRENT COSTS.1953
  4. 4INCOME AND ITS MEASUREMENT.1935
  5. 5SHOULD WE DISCARD THE INCOME CONCEPT?1962