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What is profit?

In: Business & Finance, Economics [Edit categories]

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Profit in generally is making of gain in business activity for the benefit of the owners of the business.

First answer by ID2107779624. Last edit by ID2107779624. Question popularity: 4 [recommend question].

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Gross profit and net profit?
Gross and Net profit are virtually the same. They both calculate EBT, earnings before taxes - all overhead and salaries.
Is it Non-profit or Non-Profit?
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Will economic profit exceed accounting profit?
Economic profit will never exceed accounting profit. The accountant will calculate total cost using only explicit costs (basically a transfer of money) that the firm makes. On the other hand,...
Difference between for-profit and not-for-profit?
The first, and most important difference between a for profit and non-profit business is the profit. As mentioned above, both have to generate a profit in order to survive and grow. Both have to...