Category 1
Paid a fixed amounty of money to accomplish their work.
What is Salary?
Profit is.
What when revenue is higher than costs?
A loss is when.
What is costs outweigh revenue?
Cost that do not change as output changes.
What is Fixed Cost?
Money, Property, or Services received.
What is Income?
An amount paid to an employee based on a percentage of the employee's sales.
What is Commission?
The amount of money spent by a business in making products.
What is Cost?
Income generated by a business from sales of goods and services.
What is Revenue?
Income before payroll taxes such as federal income tax and state income tax are taken out.
What is Gross Income?
A minimum price that an employer can pay a worker for an hour of labor.
What is Minimum Wage?
Something of value a Business owns.
What is Asset?
Costs that change as output changes.
What is variable costs?
A sum paid or charged for the use of money or for borrowing money.
What is interest?
Income paid for the use of an original work such as art, music, a logo, film or book.
What is Royalty?
To calculate whether a business has made a profit or a loss you must use a equation.
What is revenue - costs?
The total amount of income a business earns from selling its products.
What is Total Revenue?