Question

Define entrepreneurship in your own words without using the internet.

and
Distinguish between net profit and sales.

Answer 1

Answer:

Entrepreneurship is the ability and rediness to develop , organize and run a business enterprise along with any of its uncertainties in order to make a profit .The most prominent example of entrepreneurship is starting a new business.

• Sales- It reflects revenue meaning all the money a firm collects.
• Net profit- It is calculated by subtracting all the costs...

Answer 2

Answer:

Entrepreneurship is a process of an action of an entrepreneur who undertakes to establish his enterprise...

Explanation:

Differences

Net profit::

1. Net profit is company's total earnings.
2. Net profit is calculated by taking revenues and subtracting the costs of doing business such aas interest,taxes and other expenses.

Net sales::

1. Net sales are the amount of sales generated by a company after the deduction of returns,allowances for damaged and missing goods amd any discounts allowed.
2. The sales number reported on a company's financial statements is a net sales number reflecting these deductions.

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