Terminology in Financial Statements 0.0 / 5 ? Business StudiesFinanceGCSEAll boards Created by: Luis ChrimesCreated on: 04-07-19 11:16 Turnover- The total revenue a business recieves in a a given financial peiod. E.g selling products. 1 of 5 Cost of Sales- How much it costs to make or produce a product. 2 of 5 Gross Profit- The profit a business makes on selling it's products. GROSS PROFIT= TURNOVER-COST OF SALES 3 of 5 Expenses- Costs that a bujsiness must pay in order for it to run. E.g Wages 4 of 5 Net Profit- The money left when all expenses are deducted from the Gross Profit. NET PROFIT=GROSS PROFIT-EXPENSES 5 of 5
OCR GCSE Sociology Start, Methodology, Education, Family and Crime & Deviance 5.0 / 5 based on 1 rating Teacher recommended
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