Understanding Revenue in Business

What is the primary difference between revenue and profit in a business context?

• Profit is the total money received from sales, while revenue is the money left after all costs are deducted.

• Revenue and profit are the same in a business context.

• Revenue is the total money received from sales, while profit is the money left after all costs are deducted.

• Revenue includes all costs, while profit does not.

How do you calculate the total revenue for a business?

• Divide the profit by the number of products sold.

• Subtract the total costs from the revenue.

• Multiply the quantity sold by the selling price.

• Add the total costs to the profit.

In the example of Tom's Tops, how much revenue was generated from selling 30 t-shirts at £5 each?

• £30

• £300

• £5

• £150

If Tom's Tops sells 40 original t-shirts at £5 each, 25 edge t-shirts at £8 each, and 18 cool t-shirts at £12 each, what is the total revenue?

• £500

• £616

• £800

• £700

If Tom's Tops expects a 20% increase in revenue from June's £616, what will be the predicted revenue for July?

• £750

• £739.20

• £700

• £800