Accountancy, asked by franklin101, 7 months ago

profit represents excess of revenue over expenses. state true or false​

Answers

Answered by afzahan
2

Answer:

true

Explanation:

because the definition of profit is same

Answered by Chaitanya1696
3

In the question, we are given a statement and asked whether the statement is true or false

  • We are given in the statement whether profit represents the excess of revenue over expenses
  • The answer to this statement is true
  • Revenue is nothing but what the organization earns during the period
  • Expenses are nothing but what the organization pays during the period
  • So profit is nothing but the revenue minus the expense
  • In other words, profit represents the excess of revenue over expenses

             

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