1. What is the formula for profit
- Expenditure - Revenue
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2. What is an example of revenue
- Advertising for shop
- Rent or Interest
- Staff wages
3. What is expenditure
- Money the business pays out.
- Money that comes into the business
- Sales of goods
4. What is variable costs
- Costs that change depending on the number of products made or sold.
- Costs that stay the same no matter how much products the business makes or sells.
5. Define the term breakeven
- Breakeven is when revenue and expenditure costs are the same
- Breakeven is when total and expenditure costs are the different
- Breakeven is when revenue and expenditure costs are the different
- Breakeven is when revenue and profit costs are the same
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