Respuesta :
Answer:
Profit = what the artist keeps after selling a painting and paying her costs.
revenue = what the artist receives when a customer buys a painting.
Total cost = what the artist pays for supplies and rent on her art studio.
In this situation, Profit would indicate to what the artist keeps after selling a painting and paying her costs. Revenue would indicate to what the artist receives when a customer buys a painting and Total cost would indicate to what the artist pays for supplies and rent on her art studio.
What is Revenue?
The entire amount of money received by an organization's operations over a predetermined period of time is the basic definition of revenue.
Revenue for a business is its gross income before deducting any costs. Revenue is the financial gain from sales and/or provided services and is defined by profits and total earnings.
Revenue is reported on the income statement rather than the balance sheet alongside other assets for accounting purposes. Revenue is used to finance the acquisition of new assets, settle debt, and provide dividends to stockholders. Thus, revenue in and of itself is not an asset.
Revenue is more than just a lifeline, it may also help one gain important business information. One must grow one's revenue if they want to boost their company's earnings. One may boost his profitability by monitoring his revenue and concentrating on increasing it.
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