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Profit is calculated by subtracting __costs__ from revenues. Apex answers
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How do you calculate profit margins?
Gross Profit Margin = Gross Profit/Revenues Net Profit Margin = Net Profit/Revenues
What are profit centers accountable for?
Profit centres are accountable for revenues, costs, and, consequently, profits.
What is the difference between revenues and the expenses needed to operate the business?
profit or loss
What is a responsibility center that incurs costs and expenses and generates revenues?
It is a Profit Center
How do you find net profit?
Total revenues and gains minus total expenses and losses.
Profit is calculated by subtracting costs from?
Profit is calculated by subtracting operating costs from gross revenues.
Profits is calculated by subtracting costs from what?
Profit is calculated by subtracting costs from revenue.
What accurately explains how profit is calculated?
Costs are subtracted from revenues.
Which of the following accurately explains how profit is calculated (Apex)?
cost are subtracted from revenues
How is gross profit calculated?
Gross profit is calculated by taking your net sales (sales - sales discounts) and subtracting your cost of goods sold.
How do you calculate profit margins?
Gross Profit Margin = Gross Profit/Revenues Net Profit Margin = Net Profit/Revenues
What do you get when you deduct cost from revenues?
Deducting direct costs from revenues is gross profit while deducting all other remaining cost we get net profit.
What are profit centers accountable for?
Profit centres are accountable for revenues, costs, and, consequently, profits.
Subtracting costs from revenue calculates?
profit
What are revenues minus costs?
Revenue - Cost = Gross profit
When revenues exceed expenditures, _____.?
there is a budget surplus
How can one determine and calculate economic profit in a business?
To determine economic profit in a business, subtract total costs (including both explicit and implicit costs) from total revenue. Economic profit is calculated by subtracting all costs, including opportunity costs, from total revenue.
