Profit is a contractual income. - Vidyadip

Question

Profit is a contractual income.

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Answer

No, I do not agree with the statement.

Contractual income is that income that is paid as per the terms and conditions of payment.
Profit is not a contractual income.
It is residual income because profit is the earning of an entrepreneur.
It is the income that is left over after making payments to all factors of production.
Profit may not be always positive.
It can be zero or even negative.
Thus, it is a fluctuating income.

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