GK
BUSINESS MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Income minus costs
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profit
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credit
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motivation
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operations
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Explanation:
Detailed explanation-1: -Net profit is the difference between a company’s revenue and its expenses. It is calculated by subtracting a company’s total costs from its total revenue. This figure represents a company’s profit after all its costs have been paid. Net profit is also known as “net income” or “earnings."
Detailed explanation-2: -Gross profit is revenue minus the cost of goods sold (COGS), which are the direct costs attributable to the production of the goods sold in a company.
Detailed explanation-3: -Gross profit, also known as gross income, equals a company’s revenues minus its cost of goods sold (COGS). It is typically used to evaluate how efficiently a company is managing labor and supplies in production.
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