Cleveland's healthcare sector also includes University Hospitals of Cleveland, a renowned center for cancer treatment, MetroHealth medical center, and the insurance company Medical Mutual of Ohio. Cleveland is also noted in the fields of biotechnology and fuel cell research, led by Case Western Reserve University, the Cleveland Clinic, and University Hospitals of Cleveland.
Revenue is integral to a business to cover the costs of producing and selling its goods or services. Without it, profit would not exist. Calculate total revenue by multiplying the price per unit by the quantity sold. For example, if a company sells 100 light bulbs at $3 each, the total revenue is $300.
The difference between revenue and total business expenses is known as net profit. Net profit is the last line in an income statement and is the figure that concerns most people who use such statement. Knowing how net profit measures operational efficiency and how it is related to parties associated with your business can help improve your management skills.