Answered

QUESTION 9 of 10: In June, you made a profit of \($5,000 with revenue of $\)20,000. What were your total expenses?
a) \($5,000
b) $\)15,000
c) \($20,000
d) $\)25,000

Verified Answer :

GinnyAnswer

To determine the total expenses for June, follow these steps:

1. Identify the given values:
- Profit = \($5,000 - Revenue = $\)20,000

2. Understand the relationship:
- Revenue is the total amount of income generated before any expenses are deducted.
- Profit is the amount remaining after all expenses have been subtracted from the revenue.

3. Set up the equation:
- Since Profit = Revenue - Expenses, we can rearrange this to find the expenses:
\(\[ \text{Expenses} = \text{Revenue} - \text{Profit} \]\)

4. Substitute the known values into the equation:
- \(\[ \text{Expenses} = 20,000 - 5,000 \]\)

5. Calculate:
- \(\[ \text{Expenses} = 15,000 \]\)

Therefore, the total expenses for June are \($15,000. The correct answer is: b) $\)15,000

Related Questions