Profit and loss - CALCS Flashcards by sophia yu

Q

What is profit?

A

When revenues of a business are greater than the total costs.

How well did you know this?

1

Not at all

2

3

4

5

Perfectly

Q

How do you calculate profit?

A

Profit = Sales revenue - Cost of sales

How well did you know this?

1

Not at all

2

3

4

5

Perfectly