What is profit?
A. Money invested after all business expenses, including salaries, rent and taxes have been paid.
B. Money lost after all other business expenses, including salaries, rent, and taxes have been paid.
C. Money remaining when all expenses except salaries, rent, and taxes have been paid.
D. Money remaining when all other business expenses, including salaries, rent, and taxes, have been paid.
Answer (1)
Profit is the financial gain after subtracting all business expenses from total revenue, specifically defined as the money remaining after paying salaries, rent, and taxes. The correct understanding is represented by option D. An example helps clarify this by showing how profit is calculated. ;
