During 2019, Luxury Jewellery Inc. had sales revenues of $1,500,000. This retailer also had expenses that totalled $800,000. What is the firm's profit or loss amount?

Question

Quizplus · Accepted Answer

To find the profit or loss amount, we need to subtract the expenses from the sales revenues: 
Profit/Loss = Sales Revenues - Expenses 
Profit/Loss = $1,500,000 - $800,000 
Profit/Loss = $700,000 Therefore, the correct answer is D) $700,000.