Financial terms

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  • Created by: lisha1
  • Created on: 01-05-17 21:16
What is revenue?
it is the income earned by a business over a period of time (Revenue=Price*Quantity
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What is cost?
it is the amount of money a company spends to make a product or service
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What is profit?
it is the amount of money a company has made after deducting other costs (Profit=total revenue-total costs)
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What is the revenue between revenue, cost and profit?
the total revenue is the income of a business from the sales they make. The total profit is made by subtracting total costs from revenues. The total revenue is made by multiplying the price received for each unit sold by the number of units sold
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Other cards in this set

Card 2

Front

What is cost?

Back

it is the amount of money a company spends to make a product or service

Card 3

Front

What is profit?

Back

Preview of the front of card 3

Card 4

Front

What is the revenue between revenue, cost and profit?

Back

Preview of the front of card 4

Card 5

Front

cnwnsn

Back

Preview of the front of card 5

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