The term which refers to the total amount of sales made by a firm in one year or the total amount of money changing hands in business, is

A. trade gap

B. turnover

C. reserves

D. referendum

Answer: Option B

Solution(By Examveda Team)

The term which refers to the total amount of sales made by a firm in one year or the total amount of money changing hands in business, is turnover. Sales turnover represents the value of total sales provided to customers during a specified time period, which is usually one year. The amount includes only revenue that is generated from daily operations, not non-operating revenue.