No
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Profit
|
Income
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1
|
Amount Received over and above the Cost is called as profit
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Income is a revenue arising as result of business transactions
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2
|
Example: Goods Cost $5000 sold for
$7500 here $2500 is profit.
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A portion of the office is Subletted for $ 1000 per month. $12000 will be an income for the year on account of rent received.
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3
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Profit = Selling Price – Cost Price
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No such equation is required for income.
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Difference between Profit and Income
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ReplyDeleteCricket, as a sport, is worshipped in our country. 2020 was a trying time for everyone and sports had come to a halt for almost 4 to 5 months. The Indian Premier League (dimeapp.in ) 2020 came as a much-needed welcome change for Indian sports fans. Fans celebrated the magnanimity of dimeapp.in and also increased their engagement with the matches by participating in Dime app fantasy sports contests, which amplified the thrill and excitement of the tournament. As much fun as dimeapp.in is for the fans it is even more exhilarating for Dime app to provide a great sports engagement platform for Indian fans.
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