Question

Business is said to be in a profit when​

Answer 1

Profit describes the financial benefit realized when revenue generated from a business activity exceeds the expenses, costs, and taxes involved in sustaining the activity in question. ... Profit is calculated as total revenue less total expenses.

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Answer 2

Profit is defined as the financial advantage obtained when the income generated by a commercial activity exceeds the expenses, costs, and taxes associated with the activity in question.

How does a company earn money?

• The net profit of a corporation is its income after all expenses involved with the manufacture, production, and selling of things have been deducted.
• Profit is often known as "money in the bank."
• It is either delivered directly to a company's owners or shareholders or reinvested in the company.
• Profit, also known as net income, is the number of earnings that exceed costs during a given period of time.
• In other terms, it is the residual revenue after subtracting all needed and corresponding expenditures for the time.

Why should a company make a profit?

• Profit is determined by deducting a company's revenues from its expenses.
• Profitability is critical to a company's capacity to get bank funding, attract investors to support its operations, and grow its business.
• Companies cannot thrive unless they generate a profit.

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