# revision for test 1

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Revenue
Usually a businesses make their revenue by selling goods and/ or services to customers
1 of 10
Identify sources of revenue
1) interest paid on money in a bank savings acount 2) investment income from people buying shares in the business or lending it money 3) leasing or rental income by renting out property or equipment that is not currently required to another business
2 of 10
Calculate revuenue
nebenue= number of sales X price per unit
3 of 10
Expenditure
They have to pay the bills involved in running the enterprise on a day-to-day basis, in the same way that a family must pay the bills at home
4 of 10
Rent and business rates, staff wages, raw metrials, vehicles and fuel
5 of 10
Expenditure
It relates to all the money the business pays out. Some of these will be fixed costs and some will be vaiable costs.
6 of 10
A newsagent near a school or college would be busier in term time than during the holidays; howeever, it has fixed costs to pay at all times. another name for these is overheads.
7 of 10
Profit
Occurs when revenue is more than expenditures
8 of 10
Loss
Occurs when expenditure is more than revenue
9 of 10
To calculate profit
profit/loss= revenue- expenditure
10 of 10

## Other cards in this set

### Card 2

#### Front

Identify sources of revenue

#### Back

1) interest paid on money in a bank savings acount 2) investment income from people buying shares in the business or lending it money 3) leasing or rental income by renting out property or equipment that is not currently required to another business

### Card 3

#### Front

Calculate revuenue

Expenditure