All payments received from the clients for services performed and home care products purchased is known as:

The correct answer is income, as this term encompasses all the payments received from clients in exchange for services performed and home care products purchased. In the context of cosmetology or any service-based business, income reflects the total monetary gain before any deductions, such as expenses. It represents the financial inflow generated from the core operations of the business, which includes providing beauty services and selling related products to clients.

The other options represent different financial concepts. Expense refers specifically to the costs incurred by the business in order to provide those services or maintain operations. Revenue is similar to income but often refers to the earnings before any deductions. Profit is what remains after all expenses are subtracted from revenue or income, indicating the financial success of the business. Understanding these distinctions is crucial for managing and analyzing the financial health of a cosmetology practice.