Business- profit and loss accounts 0.0 / 5 ? Business StudiesProfitGCSEEdexcel Created by: hannah.monksCreated on: 08-04-16 14:12 What does the profit and loss account show? Shows a business' financial performance over a period of time. 1 of 5 How to calculate gross profit? Sales turnover- cost of sales 2 of 5 How to calculate net profit? Gross profit- expenses. 3 of 5 What is a start-up cost? Cost that a business has to cover when it first set up, it is only paid for once. 4 of 5 What is a running cost? A cost that a business must pay regularly 5 of 5
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