What is the difference between income and profit?

Asked by Last Modified  

4 Answers

Follow 1
Answer

Please enter your answer

Tutor

Income is the total receipts and profit is the net income after deducting expenditure and taxes from income
Comments
Dislike Bookmark

Tutor

Income means the total amount you earned through the operations whereas the profit means the excess of the earnings over the cost spent for earning the total amount
Comments
Dislike Bookmark

Income is the total amount received by the business without deducting expenditure. Profit is the amount derived after deducting expenditure
Comments
Dislike Bookmark

Commerce Tutor

Income means what you earn as business or any other way say interest etc.profit is different from income.it is calculated by deducting all your expenses from income.for e.g ur business income is 50000 and your expenses of running business is 20000.then your profit will be 50000-20000=30000.
Comments
Dislike Bookmark

View 2 more Answers

Related Questions

Hello, myself Abdul matiwala i have cleared my BPP (bachelor in preparatory programme) which is equivalent to 12th from MGU. now am planning to complete my graduation from KSOU (karnataka state open university) or MBU (manav bharti university) please can you tell me are this university UGC approved or are they fake. what is their certification value in market. i want to pursue MBA after completing my graduation.please do let me know in need for education guidance. hope to hear from you soon.
KSOU is an approved University by UGC and it's not fake University. Please refer: http://www.ksoukarnataka.com/recognition.html Manav Bharti University is also notified by University Grants Commission...
Abdul
I want to know about B.Com in human resource management. What's the scope of B.Com in Human resource management in India and about the salary earned by it. How much salary is earned in it?
Totally depends upon candidate knowledge.
Abdul

I'm doing b.com and I'm in 1st year. Can anyone suggest me the best books used for accounting
pankaj publication is bst
Md
What is long-term debt?
Debt like loans debentures...more than 1year period
.
0 0
8
I want to give coaching of fundamental accounting,cost and management accounting,statistics,maths at my home. But my mother tongue is Hindi.Can I teach at my home place?
Of course you can
Amandhiman

Now ask question in any of the 1000+ Categories, and get Answers from Tutors and Trainers on UrbanPro.com

Ask a Question

Related Lessons

Types of Financing
Types of Financing Bridge Financing Bridge finance refers to loans taken by a company normally from commercial banks for a short period because of pending disbursement of loans sanctioned by financial...

FR Prashanth Reddy

6 0
0
Is accountancy science and art? Explain ?
Is accountancy science and art?:--Accountancy plays a very important role in these days of growing commercial and trade. Frequently various laws and Acts like—Company’s Act, M.R.T.P. Act are...

Kousiki Chakraborty

1 0
0
Process Costing
Introduction Process Costing is a method of Costing used in industries where the material has to pass through two or more processes for being converted into final product. It is defined as a method...

FR Prashanth Reddy

Corporate accounting:- Issue of Shares
Issue of shares :- we can issue shares for cash and for consideration other than cash. A) For cash :- Issue price may be payable either 1) Shares payable in lump sum which means shares will be fully...

Sumitra C.

0 0
0
Corporate Challenges Of A Finance Professional Today: How to face it?
Dear Corporate Professionals, Past few decades the Global financial services industry and the accounting profession have undergone a sea change with the rapid globalization of economy where Financial...

Venkatesh

1 1
0

Recommended Articles

6 Exam Hall Tips To Follow, For Every Good Student

Appearing for exams could be stressful for students. Even though they might have prepared well, they could suffer from anxiety, tension etc. These are not good for their health and mind. However, following a few exam preparation tips can save them from all these and help them to score good marks. Let’s find out all...

Read full article >

Top Benefits of e-Learning

With the current trend of the world going digital, electronic renaissance is a new movement that is welcomed by the new generation as it helps makes the lives of millions of people easier and convenient. Along with this rapidly changing movement and gaining popularity of Internet, e-Learning is a new tool that emerging...

Read full article >

Science, Arts Or Commerce - Which One To Go For?

Once over with the tenth board exams, a heavy percentage of students remain confused between the three academic streams they have to choose from - science, arts or commerce. Some are confident enough to take a call on this much in advance. But there is no worry if as a student you take time to make choice between - science,...

Read full article >

6 Healthy Habits of School Children

While schools provide formal education to the children, the home is where they start learning about things informally. Parents think that schools will take the initiative to educate their children. Well, this is partially true, as parents also play an essential role in bringing up their child. For the development of particular...

Read full article >

Find BCom Tuition near you
BCom Tuition in Delhi
BCom Tuition in Bangalore
BCom Tuition in Mumbai
BCom Tuition in Hyderabad
BCom Tuition in Chennai
BCom Tuition in Kolkata
BCom Tuition in Pune
BCom Tuition in Gurgaon
BCom Tuition in Noida
BCom Tuition in Ghaziabad

Looking for BCom Tuition ?

Learn from the Best Tutors on UrbanPro

Are you a Tutor or Training Institute?

Join UrbanPro Today to find students near you