USA HISTORY

Detailed explanation-1: -Net profit looks at how much money your business has left after all expenses have been deducted.

Detailed explanation-2: -Profit is the value remaining after a company’s expenses have been paid.

Detailed explanation-3: -Net income is also referred to as net profit since it represents the net amount of profit remaining after all expenses and costs are subtracted from revenue.

Detailed explanation-4: -There are two types of profit: accounting profit and economic profit. Accounting profit is total revenue minus explicit costs and depreciation. Economic profit is total revenue minus explicit costs and implicit costs.

Detailed explanation-5: -Profit is the money you have left after paying for business expenses. There are three main types of profit: gross profit, operating and net profit. Gross profit is biggest. It shows what money was left after paying for the goods and services sold.