State two importance of determining cost and revenue for a firm
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Cost, revenue and profit are the three most important factors in determining the success of your business. A business can have high revenue, but if the costs are higher, it will show no profit and is destined to go out of business when available capital runs out.
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Cost, revenue and profit are the three most important factors in determining the success of your business. A business can have high revenue, but if the costs are higher, it will show no profit and is destined to go out of business when available capital runs out.
Revenue is what keeps your business alive. Beyond being a lifeline, revenue can give you key insights into your business. If you want to increase your business profits, you need to increase your revenue.
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