INTRODUCTION TO ENTREPRENEURSHIP
IMPORTANCE OF ENTREPRENEURSHIP IN ECONOMIC DEVELOPMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which is the proper equation to calculate profit or loss?
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Expenses + Revenue = profit or loss
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Revenue x Expenses = profit or loss
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Revenue-Expenses = profit or loss
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Expenses / Revenue = profit or loss
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Explanation:
Detailed explanation-1: -Finding profit is simple using this formula: Total Revenue-Total Expenses = Profit.
Detailed explanation-2: -When the selling price and cost price are known, the basic formulas for calculating the profit and loss are: Profit = Selling price (S.P.)-Cost price (C.P.) Loss = Cost price (C.P.)-Selling price (S.P.)
Detailed explanation-3: -add up all your income for the month. add up all your expenses for the month. calculate the difference by subtracting total expenses away from total income. and the result is your profit or loss.
There is 1 question to complete.