ENTREPRENEURSHIP

Detailed explanation-1: -Net income, also known as the bottom line, is revenues minus expenses. There is a profit when revenues exceed expenses.

Detailed explanation-2: -Profit, which is typically called net profit or the bottom line, is the amount of income that remains after accounting for all expenses, debts, additional income streams, and operating costs.

Detailed explanation-3: -Profit simply means a positive gain generated from business operations or investment after subtracting all expenses or costs. In economic terms profit is defined as a reward received by an entrepreneur by combining all the factors of production to serve the need of individuals in the economy faced with uncertainties.

Detailed explanation-4: -Revenue (also called the top line) is the amount of money a business generates from its core business operations.