BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -Net income represents the overall profitability of a company after all expenses and costs have been deducted from total revenue. Net income also includes any other types of income that a company earned, such as interest income from investments or income received from the sale of an asset.

Detailed explanation-2: -Earned surplus, is defined as the balance of the net profits, net income, and gains of a corporation after deducting losses and distributions to stockholders and transfers to capital stock accounts, which is not taxable as a dividend.

Detailed explanation-3: -The excess of the income over the ex-pense is the net profit for the period. The accumulated net profit which has been left in the business-not distributed to the owners-is surplus.

Detailed explanation-4: -Net profit reflects the amount of money you are left with after having paid all your allowable business expenses, while gross profit is the amount of money you are left with after deducting the cost of goods sold from revenue.

Detailed explanation-5: -Net profit (also called net income or net earnings) is the value that remains after all expenses, including interest and taxes, have been deducted from revenue.