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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

Increase profit

-cheaper supplier
- sell more products
- cheaper materials
- advertisement