Accountancy, asked by rekhasaini5595463, 7 months ago

Distinguish between
profit and gain

Answers

Answered by Anonymous

Answer:

Profit is the excess of revenues over expenses during an accounting period. It is the result of business transactions which are of regular nature whereas gain arises from events or transactions which are incidental to business such as sale of a fixed asset or winning a lottery prize.

Explanation:

Previous Question

Next Question

Similar questions

Math, 3 months ago

(-3)^-4 solve this problem...

English, 3 months ago

ANALYSE THE SENTENCE ( SIMPLE, COMPOUND , COMPLEX ) - ' I LOVE MY GRANDPARENTS. ' ...

Physics, 3 months ago

A Stone is dropped from a certain height can reach the ground in 5sec it is stopper the 3sec of its fall and the allowed to fall again. Find the time taken by the stone reach the ground for the reaming distence ...

Physics, 7 months ago

es 3 marks) Derive equation of motion of body moving in two dimensions acn car v = vo + at and r = ro +v0+v0t+1/2gtsquare ...