BUSINESS ADMINISTRATION
BUSINESS MATHEMATICS
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[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Detailed explanation-1: -The difference between the revenue and cost (found by subtracting the cost from the revenue) is called the profitThe difference between revenue and cost when revenue exceeds the cost incurred in operating the business..
Detailed explanation-2: -Gross profits is the difference between total revenue and total cost.
Detailed explanation-3: -An economic profit is the difference between the revenue received from sales and the explicit costs of producing its goods and services, as well as any opportunity costs.
Detailed explanation-4: -Revenue is any money that a business makes from selling its goods and services, whereas costs are anything that a business pays for. Businesses need revenue to ensure that they can maintain their day-to-day operations and pay any business costs they have. Example of revenue for a florist shop: selling flowers.