Profit equals the total amount of money made minus:<\/p>\n
a. Prices<\/p>\n
b. Expenses<\/p>\n
c. Revenue<\/p>\n
d. Supply<\/p>\n
Answer: b. Expenses<\/strong><\/p>\n The measure of the sum of money which results from selling goods or performing a service is the difference between revenue and cost, commonly referred to as profit. This indicates the total revenue that a business attains once all the costs and expenses incurred in the generation as well as distribution of goods or services have been deducted. These are general costs in the everyday operation of the cost of the raw materials, employee wages or salaries, rent for premises, electricity and other resources used in the business, and advertising costs, among others. While cost refers to the expenses incurred while working on products, services, or projects, revenue refers to the total sales income. Profit is calculated by subtracting the cost of operation from the income of the business. The elements of price and supply do not enter into profitability measures straight and simply because the former is part of the total revenue while the latter makes part of the total costs. Consequently, a crucial objective of most companies is to maximize profit as this reflects on their capacity to post a positive business profit.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":" Profit equals the total amount of money made minus: a. Prices b. Expenses c. Revenue d. Supply Answer: b. Expenses The measure of the sum […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"\n