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Description
Flashcards by shannon ryan, updated more than 1 year ago
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Created by shannon ryan
over 6 years ago
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| Question | Answer |
| Gross Profit = | Revenue - costs of sales |
| Net profit = | Gross profit - expenditure |
| Total costs = | Fixed costs + variable costs |
| Sales revenue = | Number of sales x price per unit |
| Profit or Loss = | Revenue - expenditure |
| Break-even point = | Fixed costs/ (selling price per unit - variable costs per unit) |
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