INTRODUCTION TO ENTREPRENEURSHIP
DEFINITION OF ENTREPRENEURSHIP
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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What is money that is kept after all expenses of running a business have been deducted from the income?
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Profit
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Cash
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Money
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Stock
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Explanation:
Detailed explanation-1: -Gross profit is the money your business holds after deducting the cost of making and selling your product. When your sales revenue (the total amount you bring in from sales) exceeds your direct expenses (cost of goods sold), your business has made a gross profit.
Detailed explanation-2: -Net profit is the money you get to keep after all expenses and taxes are paid. Net profit is often called the bottom line because it appears as the last line of your income statement after all expenses have been taken out.
Detailed explanation-3: -Profit is the money you have left after paying for business expenses.
There is 1 question to complete.