revenue and costs of business\nwhat is the accounting equation for calculating total profits? (shown in the…

revenue and costs of business\nwhat is the accounting equation for calculating total profits? (shown in the video)\n○ total cost +total revenue = total cost\n○ total utility - total cost = total profit\n● total revenue - total cost = total profit

revenue and costs of business\nwhat is the accounting equation for calculating total profits? (shown in the video)\n○ total cost +total revenue = total cost\n○ total utility - total cost = total profit\n● total revenue - total cost = total profit

Answer

Explanation:

Step1: Recall profit - calculation concept

Profit is the amount left after costs are deducted from revenue.

Step2: Identify the correct formula

Total Revenue minus Total Cost gives Total Profit.

Answer:

Total Revenue - Total Cost = Total Profit