ECONOMICS

Detailed explanation-1: -Revenue, often referred to as sales or the top line, is the money received from normal business operations. Operating income is revenue (from the sale of goods or services) less operating expenses.

Detailed explanation-2: -Also known as income or gross revenue, turnover is the total amount of sales you make over a set period. This could be weekly, monthly, quarterly or annual turnover-whatever time period you choose to measure.

Detailed explanation-3: -Turnover is an accounting concept that calculates how quickly a business conducts its operations. Most often, turnover is used to understand how quickly a company collects cash from accounts receivable or how fast the company sells its inventory.

Detailed explanation-4: -Turnover is the net sales generated by a business, while profit is the residual earnings of a business after all expenses have been charged against net sales. Thus, turnover and profit are essentially the beginning and ending points of the income statement-the top-line revenues and the bottom-line results.

Detailed explanation-5: -Business returns, excluding VAT (value added taxes) from the selling of goods and services to customers. Turnover is calculated after deduction of discounts, bonuses, returnable. deposits and on-charged freight costs Turnover is calculated after deduction of discounts, bonuses, returnable.