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Business Finance and Arithmetic — Entrepreneurship STD 11 Commerce — Question

CBSE BoardEnglish MediumSTD 11 CommerceEntrepreneurshipBusiness Finance and Arithmetic1 Mark
Question
Define profit.
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Answer

Profit is a financial benefit that is realised when the amount of revenue gained from a business activity exceeds the expenses, costs and taxes needed to sustain that activity. Symbolically,
Profit = Total sales revenue - Total expenses

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