Which of the following best describes total revenue?

Total revenue is defined as the total amount earned from all sales before any expenses are deducted. This includes all income generated from selling goods or services without considering the costs associated with producing or delivering those goods or services. Understanding total revenue is crucial for micro-enterprises as it provides insight into the overall earnings capability of the business.

The other choices focus on different financial concepts. Profit, which is the profit remaining after deducting total costs, relates to the net income rather than total revenue. The sum of all operational costs does not pertain to revenue but to the expenses incurred during business operations. Revenue generated from customer retention efforts is a more specific aspect of revenue generation but does not capture the broad scope of total revenue across all sales. Hence, the first choice is the most comprehensive and accurate definition of total revenue.