Total revenue can be defined as:
A)the amount that a firm receives from the sale of goods and services.
B)the amount that a firm spends on all inputs that go into making a good or service.
C)the total amount a firm spends on all inputs used in production.
D)the total number of sales of a good or service by a firm.

Question

Quizplus · Accepted Answer

Total revenue is the total income a company receives from its sales of goods or services, which is accurately described in option A. Options B and C describe total costs, not revenue, and option D describes the volume of sales, not the revenue generated from those sales.

Total Revenue Can Be Defined As