BUISENESS MANAGEMENT
RECORD KEEPING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Net profit
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Is the same as Net income
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Is the same as Gross Profit
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Is the same as Equity
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None of these
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Explanation:
Detailed explanation-1: -Net income, also known as net profit, is a single number, representing a specific type of profit. Net income is the renowned bottom line on a financial statement.
Detailed explanation-2: -Synonymous with net income, net profit is a company’s total earnings after subtracting all expenses.
Detailed explanation-3: -"Net income” and “net profit after tax” mean the same thing: the amount left after you subtract expenses and taxes from your earnings.
There is 1 question to complete.