What is the difference between income and profit? Detailed answer

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What is the difference between income and profit? Detailed answer

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What is the difference between income and profit?

Income is financial receipts from all types of activities of an enterprise, firm, person; indicator of his work. Profit is the same income, but net - after deducting costs, taxes, wages and other obligatory payments.

Author: Mendeleev V.A.

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