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A company reported a revenue of $1.5 million and expenses of $1 million. What is
A company reported a revenue of $1.5 million and expenses of $1 million. What is the net profit? (2023)
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Practice Questions
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Q1
A company reported a revenue of $1.5 million and expenses of $1 million. What is the net profit? (2023)
$500,000
$400,000
$600,000
$700,000
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Net Profit = Revenue - Expenses = 1.5 million - 1 million = $500,000.
Questions & Step-by-step Solutions
1 item
Q
Q: A company reported a revenue of $1.5 million and expenses of $1 million. What is the net profit? (2023)
Solution:
Net Profit = Revenue - Expenses = 1.5 million - 1 million = $500,000.
Steps: 5
Show Steps
Step 1: Identify the revenue amount, which is $1.5 million.
Step 2: Identify the expenses amount, which is $1 million.
Step 3: Use the formula for net profit, which is Net Profit = Revenue - Expenses.
Step 4: Substitute the values into the formula: Net Profit = 1.5 million - 1 million.
Step 5: Calculate the result: 1.5 million - 1 million equals $500,000.
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