Question

Define profit.
How is it calculated ?​

Answer 1

Answer:

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.

Explanation:

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Answer 2

Answer:

A company's profit is calculated at three levels on its income statement, starting with the most basic – gross profit – and building up to the most comprehensive – net profit. Between these two lies operating profit. All three have corresponding profit margins calculated by dividing the profit figure by revenue and multiplying by 100.

Explanation:

a financial gain, especially the difference between the amount earned and the amount spent in buying, operating, or producing something.