ECONOMICS

Detailed explanation-1: -Revenue meaning is the money that is produced by carrying out normal business operations and is calculated by multiplying the average sales price by the number of items sold. It is the total sum of money from which other costs and expenses are subtracted to calculate net income.

Detailed explanation-2: -It is the total income of a business and is calculated by multiplying the quantity of goods sold by the price of the goods. For example, if Company A produces 100 widgets and sells them for $50 each, the total revenue would be 100 * $50 = $5, 000.

Detailed explanation-3: -Revenue is the total amount of income generated by the sale of goods or services related to the company’s primary operations. Revenue, also known as gross sales, is often referred to as the “top line” because it sits at the top of the income statement. Income, or net income, is a company’s total earnings or profit.

Detailed explanation-4: -Is turnover the same as revenue? No, but they do often correlate. For example, businesses can earn more revenue by turning over their inventory frequently. In essence, turnover affects the efficiency of companies while revenue affects profitability.