Revenue Flashcards
1
Q
What is revenue?
A
Revenue is the total value of all sales made by a business.
2
Q
What are other names for revenue?
A
Other names are income and turnover.
3
Q
What is the calculation for revenue?
A
Revenue = selling price x quantity sold
4
Q
The selling price of a hat is £30 and the quantity sold is 400 hats. What is the revenue?
A
Revenue = selling price x quantity sold Revenue = £30 x 400 Revenue = £12000
5
Q
The selling price of Sally’s boots are £70. She sells 200 boots one week and then 300 the next week. How much revenue does Sally make over the two weeks?
A
Quantity sold = 200 + 300 = 500
Revenue = selling price x quantity sold Revenue = £70 x 500 Revenue = £35000
