1
Q
Assets
A
= Liabilities + Owner’s Equity
2
Q
Owner’s Equity
A
= Assets - Liabilities
3
Q
Gross profit
A
= Sales - COGS
4
Q
COGS
A
= Opening stock + Purchases - Closing Stock
5
Q
Net Profit
A
= Gross profit - Expenses
6
Q
Break Even
A
Quantity = total fixed costs / unit price - variable costs per unit
7
Q
Profit
A
Profit = revenue - costs
8
Q
Return on investment
A
profit divided by investment amount x 100
Business Preliminary
flashcards
Decks in class (3)
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