ECONOMICS
PROFIT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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goods and sevices in a market
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goods and services within an industry
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None of the above
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goods from the least cost method of production
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All of the above
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Detailed explanation-1: -Revenue is the money generated from normal business operations, calculated as the average sales price times the number of units sold. It is the top line (or gross income) figure from which costs are subtracted to determine net income. Revenue is also known as sales on the income statement.
Detailed explanation-2: -Sales revenue is the income a business generates from the sale of goods or services. It’s recognized on the income statement for the month when the product is delivered or the service is fulfilled.
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: -Revenue shows how much a company makes from selling goods or services. Revenue, or income, is found on several financial statements and is used by finance professionals to determine profitability.
Detailed explanation-5: -When comparing revenue vs income you should know that “revenue” refers to the total amount of money a company generates before removing any expenses. “Income”, on the other hand, is equal to revenues minus the costs of doing business, such as depreciation, interest, taxes, and other expenses.