Question

what is the difference between profit and gain

Answer 1

Hey mate,

⚡here is your answer

⭐profit: Income derived from the regular business activity,by deploying caplital labour and time.In other words it is the return on the capital employed after deducting all working capital and fixed expenses.usually appears on the liabilities side of the balance
sheet.

⭐Gain: Income derived on investment over a period of time
time not falling under regular business activity.
it is the return derived on investment.

Answer 2

profit - Income derived from the regular business activity,where as gain- Income derived on investment over a period of time .