" Profit is called life blood of business ". Comment on this statement by giving five reasons.
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Profit is very important in Business.
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Rightly said that profit is called the blood of business.
- Any business form does economic activity with the purpose of earning money.
- Profit is the excess amount that a person earns while selling a good or service.
- Without earning profits the company cannot stay in the market for long. The primary objective is business to earn profit and this profit is known as the blood of any business.
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