Question

Difference between gross and net profit?

Answer 1

hey mate....

here's your answer...

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The difference between gross profit and net profit is when you subtract expenses. Gross profit is your business's revenue minus the cost of goods sold. ... Net profit is your business's revenue after subtracting all operating, interest, and tax expenses, in addition to deducting your COGS.

Answer 2

Answer:

Gross profit refers to a company's profits earned after subtracting the costs of producing and distributing its products. Net income indicates a company's profit after all of its expenses have been deducted from revenues