| A | B |
|---|
| revenue | term that describes money coming into a business |
| expenses | term that describes money going out of a business |
| profit | revenue - expenses = |
| the money that remains once all expenses are paid | profit is |
| loss | term that describes when expenses are greater than profit |
| two | costs can be broken down to ? main categories |
| fixed and variable | two categories of costs are called |
| constant | fixed costs are the costs that remain C... regardless of the number of sales |
| change | variable costs will c..... with the level of sales or output |
| shampoo and conditioner costs | an exmple of a variable costs for a hairdresser |
| rental cost of hairdressing salon | an example of a fixed costs for a hairdresser |
| electricity and water costs for operating a gym | an example of a variable cost for running a gym |
| insurance cost for operating gym | an example of a fixed cost when running a gym |
| sales | where a business gets most of its revenue from |
| break even | a term that describes when the value of revenue = the value of expenses |
