What is the formula for calculating profit?
A) revenue minus loss
B) revenue plus costs
C) expenses minus revenue
D) revenue minus expenses
E) expenses plus revenue
Answer: D
Explanation: D) The amount of revenue remaining after all business costs are paid is profit.
Business
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Which of the following formula computes the average collection period?
Select one: A. Account receivable / Average daily sales B. 365 / Average accounts receivable C. 365 / Accounts receivable turnover D. Sales / Average accounts receivable
Business
Weeding out unnecessary items, neatly arranging what's left, and cleaning the work area are components of:
A) a Kanban system. B) a constraint management system. C) mixed-model assembly. D) a 5S program.
Business