The total amount of money that a firm receives from sales of its output is called:
A) gross profit.
B) net profit.
C) total revenue.
D) net revenue.

Question

Quizplus · Accepted Answer

Total revenue is the amount a firm receives from sales of its output. Gross profit is the difference between total revenue and the cost of producing the goods, while net profit is the amount left over after all expenses are deducted from total revenue. Net revenue is not a commonly used term in business.

The Total Amount of Money That a Firm Receives from Sales