Podcast
Questions and Answers
What is the formula for calculating profit?
What is the formula for calculating profit?
In a business, if the revenue is $500 and the cost is $400, what is the profit?
In a business, if the revenue is $500 and the cost is $400, what is the profit?
What does a negative value for profit indicate?
What does a negative value for profit indicate?
Study Notes
Calculating Profit
- The formula for calculating profit is: Profit = Revenue - Cost
- Example: If revenue is $500 and cost is $400, the profit would be $500 - $400 = $100
- A negative value for profit indicates that the business is operating at a loss
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Description
Test your knowledge of profit calculation with this quiz. Learn about the basic formula for calculating profit, and understand how to interpret a negative value for profit in a business context.
