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The Economic & Business Environment
Maintaining Financial Records
Formulas
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Cards (9)
Gross Profit =
Sales
-
cost of goods sold
Net profit
=
gross profit
+ other
income
-
expenses
Cash balance =
cash inflows
-
cash outflows
Government Spending = Injection (
G
)
Investment = Injection (
I)
Imports = Leakages (
M
)
Savings =
Leakages
(
S
)
Taxation = Leakages (
T
)
Exports = Injections (
X
)