Answer / sredhar s

In simple terms profit is the diffeence between sales and
cost incurrred by the organisation.

Profit = Sales or turnover - Cost or expenses

Answer / raju malode rnr

Income over expenditure and profit means it take its own
meaning depending upon the situation means Gross Profit and
Net Profit. Gross Profit=(Purchase+direct exps)-
(sales+closing stock), Net Profit=(Indirect Expenses)-
(Indirect Income).

Answer / rajesh

profit means revenue over expenditure is called profit

Answer / sunil

There are two type of profit. One is net profit and second
is Gross profit. Net profit means Indirect expenses
(administrative Expenses)over the Indirect Income.

Gross Profit means (Purchases+direct expenses)- (Closing
stock+ net sales.

Answer / srinivas annavarapu

Profit is a measure of success of a business.

Total Income / revenue - total expenditure = Profit

Answer / abhay

PROFIT means revenue is greater than expenditure. When we
deduct cost of goode sold from sales we get gross profit +
indirect income - indirect expenses = netprofit.

Answer / srihari.p

In simple term 'excess of totalrevenue over the total
expenditure is called profit.

Answer / abhishek dhoot

Profit is the difference between the income of the business
and all its costs/expenses. It is normally measured over a
period of time.

Answer / sumitra.raghavan

profit is excess of revenue over expense

Answer / kamal

in general the profit means sales is more than the cost of products.
profit= sales - cost of product.

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2 Answers