Question

difference between profit and gain??​

Answer 1

Explanation:

A profit is a result of operating activities of the business, whereas gain is the result of any unexpected transaction like gain on sale of fixed asset. Profit is the total sales minus cost, i.e. that earned from the regular business operations. Whereas gain is regarding the additional amount earned on an investment.

Answer 2

As we know that the profit is calculated by deducting the cost from the sale or revenue, which is earned by the regular business transaction. Whereas gain is conducted by sale of assets or investment!.....