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    Understanding Canadian Business
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    Exam 1: Taking Risks and Making Profits Within the Dynamic Business Environment
  5. Question
    The Amount of Profit or Loss Earned by a Business
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The Amount of Profit or Loss Earned by a Business

Question 32

Question 32

True/False

The amount of profit or loss earned by a business can be found by subtracting the firm's expenses from its revenues.
Profit is the difference between a firm's revenue and its expenses.

Correct Answer:

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