Financial terms and simple calculations
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- Created on: 11-04-14 09:11
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- 3.2 Financial terms and simple calculations
- Financial terms
- Price: The amount of money paid by a customer for a good or service.
- Sales: the number of items sold or services provided.
- Revenue: the value of money coming in from sales (also referred to as sales revenue or sales turnover).
- Costs: the expenses incurred by a business when providing goods or services.
- Profit: The surplus of revenue over costs.
- Financial calculations
- Revenue
- Number of products sold x selling price (PxQ)
- Costs
- Add up all the costs incurred in making the sales.
- Profit or loss
- The difference between revenue and costs; Revenue - costs = profit (or loss)
- Revenue
- Financial terms
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