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1. How are revenue and profit related?
Revenue is what is reported to taxing agencies and profit is what is reported to shareholders.
Revenue and profit are essentially the same things.
Revenue is the money received from customers. Profit is what is left of the revenue after the costs and expenses of the business are subtracted.
2. What are the two financial values that are combined to calculate profit?
Revenues and costs.
Cash on hand and debt.
Money from customers for goods and money from customers for services.
3. There are two categories of business activity that create Revenues. Some companies only receive money from one category; some receive both. What are the two categories?
Money from customers for goods sold and money from customers for services sold.
Money from selling and money from borrowing.
Money from domestic customer and money from international customers.
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