Profit is a reflection of reduced liabilities and increased assets.
Profit is a surplus remaining after total costs are deducted from total revenue. It is the best known measure of success in any business or enterprise.
Profit is a reflection of reduced liabilities and increased assets. It also forms a major form of investment in future operations.
Earning profit single most driving force of running commercial enterprises. The simple formula in calculating profit is: Profit = Total revenue โ total expense.
From the Book โ โ Know Everything about Corporate Social Responsibility โ
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Also Read:
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- What is a Labour Market?
- What is Humanistic Management?
- What is the Public Enterprise?
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(India CSR)
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