What is Net-Profit?

A.VERIFIED ANSWERfact-checked by tutors

Net-Profit means the excess of revenue (whether operating Expenses or non-operating ) over expenses and losses (Whether operating or non-operating). It is arrived by deducting operating espenses from operating profit as well as non-operating profit.

Suggested Q&A

ACCOUNTANCY · CLASS 11

AccountancyCLASS 11
What is meant by Assets? Also explain its types.
AccountancyCLASS 11
Explain the following terms of Accounting: (a) Sales (b) Revenues (c) Profit (d) Gain (e) Loss (f) Discount (g) Drawings.
AccountancyCLASS 11
Describe the informational needs of external users.
AccountancyCLASS 11
Explain any five advantages of Accounting.
AccountancyCLASS 11
Explain any five limitations of Accounting.
AccountancyCLASS 11
Explain the following terms of Accounting: (a) Expenses (b) Expenditure (c) Debtors (d) Creditors (e) Voucher.