Question

Which of the following best describes the total money generated by a veterinary practice, prior to payment of expenses and taxes?

1) Net profit
2) Profit and loss
3) Accounts payable
4) Gross revenue

Answer 1

The total money generated by a veterinary practice, prior to payment of expenses and taxes, is called gross revenue.

Step-by-step explanation:

The correct answer is 4) Gross revenue.

Gross revenue refers to the total amount of money generated by a veterinary practice before deducting any expenses or taxes. It represents the total sales revenue received from providing services or selling products.

For example, if a veterinary practice generates $1 million in sales revenue, then $1 million would be considered the gross revenue of the practice.