Whether a business makes a profit or loss is determined by the difference between the total amount of money a business takes in, known as its and the money needed to operate it known as its .

Profit or Loss is determined as the difference between the revenue made by a business (also known as its income), and the expenses spent in the process of generating that revenue.

[tex]Profit/Loss = Revenue - Expenses[/tex]

If the difference is positive, the outcome is a profit. If the difference is negative, the outcome is a loss.

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Whether a business makes a profit or loss is determined by the difference between the total amount of money a business takes in, known as its __________ and the money needed to operate it known as its __________.

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Whether a business makes a profit or loss is determined by the difference between the total amount of money a business takes in, known as its and the money needed to operate it known as its .