Business Arithmetic — Entrepreneurship STD 12 Commerce — Question
CBSE BoardEnglish MediumSTD 12 CommerceEntrepreneurshipBusiness Arithmetic1 Mark
Question
What do you mean by Gross Profit?
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Answer
Excess of Unit Price over Unit Cost is known as the Unit Gross Profit or Unit Gross Margin. This represents the business's profit from selling a product or providing service before deducting fixed expenses such as salaries, rent, and other expenses.
Gross Profit = Unit Price - Unit Cost
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