Profit equals the total amount of money made minus


Asked by wiki @ in Business viewed by 270 People

Answered by wiki @


The correct answer is 1, profit equals the total amount of money made minus the production cost.

In financial terms, you have a profit when the amount of revenue gained from a business interaction surpasses its expenses as well as cost and taxes.

The calculation of profit is total revenue minus total expenses.

In the financial income statement of a company, accounting people take in consideration three kinds of profits: gross profit, net profit, and operating profit.

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