Business Turnover?

Question

Can somebody please clarify this for me in simple terms?

Answer 1

Turnover

Simply put, Turnover is the volume of business over a period of time.

It is also the ratio of workers in a company that have been replaced over a period of time, to the average number of workers.

If a company is selling goods, it is also the number of times that their inventory of goods is sold over a given period.