Profit refers to the amount of money a business makes after its expenses are paid. It is calculated by subtracting the total cost from the total revenue.
Profit refers to the amount of money a business makes after its expenses are paid. It is calculated by subtracting the total cost from the total revenue.
Profit is an important indicator of a business's financial success, as it represents the amount of money the business has earned.
For example, if a business has total revenue of $10,000 and total costs of $7,000, the profit would be $3,000 ($10,000 - $7,000).
Profit plays a crucial role in the decision-making process of businesses.
It enables businesses to reinvest in their operations, expand, and generate returns for their owners and shareholders