High School

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Profit is defined as:

A. Net revenue minus depreciation.
B. Total revenue minus total cost.
C. Average revenue minus average total cost.
D. Marginal revenue minus marginal cost.

Answer :

Profit is defined as the difference between total revenue and total cost. So, the correct answer is: Total revenue minus total cost.

How to calculate profit?

The formula to calculate profit is given as:

Profit = Total revenue - Total cost

In simple words, Profit is the amount that a business makes after deducting all the expenses. Profit is used as an indicator of a company's profitability. It is a critical metric for evaluating a company's financial health. A business's ability to generate profits over the long term determines its survival and ability to grow.

The formula for calculating profit includes revenues, which are the earnings that a company makes through the sale of goods or services. Total costs include both fixed and variable expenses like rent, salaries, and the cost of raw materials, which a business has to pay to produce the goods or services. By comparing the two figures, you can determine the total amount of profit generated.

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