Question

what is difference b/w gain and profit

Answer 1

Net profit is the amount of revenue that includes incomes from other activities as well and all such expenses has been deducted which were incurred towards main activities as well as other activities. Gain is what business earns on selling such assets which is not an inventory of the business.

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Answer 2

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. Generally profit is more related to the daily operational transactions of the business unlike gain which is from sale of assets / investments.

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