Other Operating Expenses - Gross Profit

Net Profit - Gross Profit

Gross Profit - Other operating expenses

Total revenue - Total Costs

Sales Revenue - Costs of Sales

Fixed Costs + Variable Costs

Total costs + Total Revenue

Total Revenue - Total Costs

The formula for Gross Profit

The formula for Net Profit

When profit starts to increase

When Profit starts to decrease

When profit stays the same

2 - 20 people working in a business

1 person working alone in a business

True

False

True

False

Soletrader

Partnership

Corporation

You make ALL the decisions

Easy to raise money

You have to share profits

It Is easy to go on holiday and relax without being called back to work if something happens