ECONOMICS
INCENTIVES
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The amount of change you get after a purchase.
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The amount of money you make after you work.
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The amount of money you make after expense
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The amount of money you spend at the store.
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Detailed explanation-1: -Profit is the amount of income that remains after accounting for all expenses, debts, additional income streams, and operating costs. While revenue and profit both refer to money a company earns, it’s possible for a company to generate revenue but have a net loss.
Detailed explanation-2: -What is net profit? 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-3: -It is a dollar figure calculated by taking the total revenue and subtracting the total expenses. If the figure is positive it is considered to be ‘profit. ‘ If the figure is negative, then that is considered to be a ‘loss.
Detailed explanation-4: -There are three main measures of profit. These are gross profit, operating profit and net profit.
Detailed explanation-5: -Net income is the amount of accounting profit a company has left over after paying off all its expenses. Net income is found by taking sales revenue and subtracting COGS, SG&A, depreciation, and amortization, interest expense, taxes and any other expenses.