Profit determination is done on the basis of
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Answer:
revenue
Explanation:
profit is calculated as total revenue less total expenses
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Profit determination is done on the basis of revenue generation.
- Any profits earned funnel back to business owners, who choose to either pocket the cash or reinvest it back into the business.
- Profit is calculated as total revenue less total expenses.
- Operating Profit=Gross Profit−Operating Expenses
- Operating Profit Margin= Total Sales/Operating Profit
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