do profits require?
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
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What do profits require?
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Step 1
Profit defines the financial gain realized by exceeding the expenditures, costs, and taxes involved in maintaining the operation in question when revenue obtained from a business activity exceeds. Any profits received flow back to company owners who choose to either pocket or reinvest the money back into the company. Benefit less total expenditure is measured as total sales.
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