1.3.2 Business Revenues, Costs and Profits Flashcards
1
Q
Net income formula
A
Revenue - expenses
2
Q
Assets formula
A
Liabilities + equity
3
Q
Break even point formula
A
Break-even Point = Fixed Costs / (Sales Price Per Unit – Variable Costs Per Unit)
4
Q
Percentage change formula
A
Percentage change = change (difference) ÷ original amount *100.
5
Q
Profit formula
A
Total revenue - total costs
6
Q
A
