Question

Profit can be defined as The difference between some costs and others

Answer 1

Answer:

Definition of Profit

Profit is an absolute number determined by the amount of income or revenue above and beyond the costs or expenses a company incurs. It is calculated as total revenue minus total expenses and appears on a company's income statement

Answer 2

Answer:

A business's profit is the amount of money remaining after the company pays its costs and expenses. Costs are the expenses involved in developing, creating and selling the business's products and services.