Asked by
pirasanna sooriyakanthan
on Nov 12, 2024
Verified
Net income and net profit do not mean the same thing.
Net Income
The total profit of a company after all expenses and taxes have been deducted from revenue, indicative of the company's profitability.
Net Profit
The amount of money that remains from revenues after all operating expenses, taxes, and costs have been subtracted.
- Acquire insights into the mechanism and relevance of tracking revenues and expenditures.
Verified Answer
NS
Learning Objectives
- Acquire insights into the mechanism and relevance of tracking revenues and expenditures.