Flashcards in Profit And Loss Deck (6):
1
Profit
When revenue is more than expenditure .
Sales revenue - total cost
2
Loss
When expenditure is more than revenue
3
Sales revenue
The amount of money earned by a business over a period of time .
Quantity x price
4
Increase revenue
- sell more products
- sell at higher price
- advertisement
5
Decrease cost / expenditure
- cheaper materials
- cheaper supplier
- reduce overheads
6