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If a company has a total revenue of $500,000 and total expenses of $300,000, wha

Practice Questions

Q1
If a company has a total revenue of $500,000 and total expenses of $300,000, what is its net profit?
  1. $200,000
  2. $300,000
  3. $500,000
  4. $100,000

Questions & Step-by-Step Solutions

If a company has a total revenue of $500,000 and total expenses of $300,000, what is its net profit?
  • Step 1: Identify the total revenue, which is $500,000.
  • Step 2: Identify the total expenses, which is $300,000.
  • Step 3: Use the formula for net profit: Net Profit = Total Revenue - Total Expenses.
  • Step 4: Substitute the values into the formula: Net Profit = $500,000 - $300,000.
  • Step 5: Perform the subtraction: $500,000 - $300,000 = $200,000.
  • Step 6: The net profit is $200,000.
  • Net Profit Calculation – Net profit is determined by subtracting total expenses from total revenue.
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