what is meant by annual turnover(1 mark) 15 words?

Answer 1

Depends on your details of the question. In my inventory intensive business AT is how many times I can sell the dollar equivalent of all of my inventory. As a wholesaler with small margins I must have 4 turns a year to show a profit.

Answer 2

he annual turnover of a firm at any time is the gross revenue of that firm from income in, into or from the Republic, arising from the following transactions and events as recorded on the firm's income statement for the immediately previous financial year, subject to the provisions of sub-items (2), (3) and (4):

a) the sale of goods;

b) the rendering of services; and

c) the use by others of the firm's assets yielding interest, royalties and dividends.



a) When calculating turnover the following amounts may be excluded:

i) any amount that is properly excluded from gross revenue in accordance with G.A.A.P.;

ii) taxes, rebates, or any similar amount calculated and paid in direct relation to revenue, as for example, sales tax, value added tax, excise duties, and sales rebates, may be deducted from gross revenue;

b) revenue excludes gains arising from non current assets and from foreign currency transactions; and

c) for banks and insurance firms revenue includes those amounts of income required to be included in an income statement in terms of generally accepted accounting practice

Answer 3

The number of employees who live in one year.

Answer 4

A.T. means the amount of money taken in a year in total.