BUSINESS ADMINISTRATION
BUSINESS ECONOMICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Total of all the things you own that have a value, or could create money for you in the future
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A form of business owned by two or more people who share management and profits
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Money a company or an individual can keep, after all expenses have been paid
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The total amount of money a business or individual brings in
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Detailed explanation-1: -Profit is the money a business pulls in after accounting for all expenses. Whether it’s a lemonade stand or a publicly-traded multinational company, the primary goal of any business is to earn money, therefore a business performance is based on profitability, in its various forms.
Detailed explanation-2: -Net profit is the amount of money your business earns after deducting all operating, interest, and tax expenses over a given period of time.
Detailed explanation-3: -Profit simply means revenue that remains after expenses, and corporate accountants calculate profit at a number of levels. For example, gross profit is revenue less a specific type of expense: the cost of goods sold (COGS).
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: -Profit is the value remaining after a company’s expenses have been paid. It can be found on an income statement.