BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -Profit simply means a positive gain generated from business operations or investment after subtracting all expenses or costs. In economic terms profit is defined as a reward received by an entrepreneur by combining all the factors of production to serve the need of individuals in the economy faced with uncertainties.

Detailed explanation-2: -Monetary profit refers to amount of money available for circulation after the operation expenses for a business or service have been deducted form the total earnings.

Detailed explanation-3: -The profit generated by the organisation is the reward received for coordinating and controlling the other three factors of production namely land, labour and capital. Profits are the extra income which is the difference between the capital used to produce a product and the selling amount of the product.

Detailed explanation-4: -Profit is the money you have left after paying for business expenses. There are three main types of profit: gross profit, operating and net profit. Gross profit is biggest. It shows what money was left after paying for the goods and services sold. Operating profit is next.

Detailed explanation-5: -There are three main measures of profit. These are gross profit, operating profit and net profit.