Profit and loss

Total revenue is

• all the money coming in when the business sold its products or services

• money coming in after all the costs have been paid

Total costs =

• Total revenue - Total fixed costs

• Total fixed costs + Total variable costs

• Total variable costs - Total fixed costs

Total revenue is 25,000 AED, total costs are 30,000 AED. Did the business make profit or loss?

• profit

• loss

Total revenue is 10,00 AED, total costs are 7 AED. Is it profit or loss?

• profit

• loss

When a business a making a loss....

• nothing is wrong

• it might be wise to stop production of the product or service

• it's good for a business