What is cost price ?
What is selling price?
What is profit?
What is loss?
Answers
Answer:
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Step-by-step explanation:
What is cost price ?
Cost price is the total amount of money that it costs a manufacturer to produce a given product or provide a given service. ... Cost price is often considered sensitive information that the manufacturer wants to protect from both customers and competitors.
What is selling price?
Selling price is the price at which a product or service is sold to the buyer. However, cost price is the price that is incurred to produce a product or provide a service to the buyer. Formula to calculate selling price. The selling price is the sum total of the cost price and the profit margin set by the seller.
What is profit?
Profit describes the financial benefit realized when revenue generated from a business activity exceeds the expenses, costs, and taxes involved in sustaining the activity in question. ... Profit is calculated as total revenue less total expenses.
What is loss?
In financial accounting, a loss is a decrease in net income that is outside the normal operations of the business. Losses can result from a number of activities such as; sale of an asset for less than its carrying amount, the write-down of assets, or a loss from lawsuits.