ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Net profit is the amount of money your business earns after deducting all operating, interest, and tax expenses over a given period of time. To arrive at this value, you need to know a company’s gross profit. If the value of net profit is negative, then it is called net loss.

Detailed explanation-2: -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-3: -Definition: Profit, also called net income, is the amount of earnings that exceed expenses for the period. In other words, it’s the amount of income left over after all the necessary and matched expenses are subtracted for the period.

Detailed explanation-4: -Gross profit. Gross profit is the amount of money remaining after subtracting the cost of goods sold (COGS) from the total income from sales. Operating profit. Operating profit includes both variable and fixed costs. Pre-tax profit. Net profit. Net profit margin. Reduce costs. 22-Dec-2022