BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -Net income is gross profit minus all other expenses and costs as well as any other income and revenue sources that are not included in gross income. Some of the costs subtracted from gross to arrive at net income include interest on debt, taxes, and operating expenses or overhead costs.

Detailed explanation-2: -Net profit is gross profit minus operating expenses and taxes. You can also think of it as total income minus all expenses.

Detailed explanation-3: -The formula for calculating net profit is: Net Profit = Total revenue-Total expenses. It can also be expressed as. Net Profit = Gross Income-Total Expenses. Related.

Detailed explanation-4: -Gross profit is calculated by subtracting cost of goods sold from net revenue. Then, by subtracting remaining operating expenses of the company, you arrive at net income.