brayhamlocote brayhamlocote

12-02-2021
Business

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Use the formula Profit=Revenue-Expenses and think of a business. Write a paragraph about how you will make revenues for your business. What your expenses will be. Then figure out your Profit.

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Respuesta :

17-02-2021

Answer:

Profit concept explanation, with example of a coaching institute.

Explanation:

The business considered is of a coaching institute.

Its revenue is the fee earned by students studying in the institute.

The cost is fixed cost of set up, variable cost on electricity, mantainence & other miscellaneous expenses.

Profit = Total Fee received from all the students - Total cost of fixed & variable factors.

Eg : Fee per student = 1000, 10 students. Fixed cost = 2000, Variable cost = 1000

Profit = 1000 (10) - 2000 - 1000

= 10000 - 3000 = 7000

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