Net Profit: Definition & Calculation


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question 1 of 3

Total Revenue- Total Expenses is the formula for calculating what?

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1. XYZ Company had $1,750,000.00 in total revenue. The total expenses for the company were $1,175,000.00. What was the net profit for XYZ Company?

2. Net Profit is also known as _____.

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About This Quiz & Worksheet

This quiz and attached worksheet will show your comprehension of the subject of calculating net profit. Topics you will need to know in order to pass the quiz include having a grasp on the differences between revenue and net income.

Quiz & Worksheet Goals

Use these assessment tools to apply your knowledge of:

  • Expenses and revenue
  • Other terms for profit
  • How to make the calculations which determine profit

Skills Practiced

  • Making connections - use understanding of the concept of expenses and income
  • Critical thinking - apply relevant concepts to examine information about calculating net profit in a different light
  • Problem solving - use acquired knowledge to solve net profit practice problems
  • Knowledge application - use your knowledge to answer questions about calculating net profit

Additional Learning

The lesson, Net Profit: Definition & Calculation, can show you more about this topic. You'll get facts on:

  • Definition of net profit
  • Applications for the formula of net profit
  • Understanding expenses and taxes