Sales, reveunue and costs Flashcards
1
Q
What is profit and what is the calculation?
A
It’s the return or reward for taking risks and making investment
Total sales- total costs= profit
2
Q
What is total revenue equation?
A
= volume sold x sales price
3
Q
What are two ways to increase revenues?
A
1) increase quantity sold
2) achieve a higher selling price
4
Q
What is sales volume equation?
A
sales revenue/ selling price
