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Profit is the financial gain a business makes after accounting for all i expenses.expand_more In simpler terms, it's the money left over after a business pays for everything it needs to operate, including the cost of goods sold, wages, rent, and other expenses.expand_more
There are different ways to measure profit, depending on what costs are taken into account. Here are the three main types of profit:
• Gross profit: This is the money left after subtracting the cost of goods sold (COGS) from total revenue.expand_more COGS includes the cost of materials, labor, and other expenses directly related to producing the goods or services the business sells.expand_more
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