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What is profit

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What is profit

    • Posted by Kapil Tiwari 6 years, 5 months ago

    CBSE > Class 11 > Accountancy
    • 1 answers

    Sia ? 6 years, 5 months ago

    Profit refers to the excess of revenue over cost.
    Profit = TR-TVC
    TVC=Total variable costs. We take only TVC into consideration as fixed costs are constant.
    or we can also write Profit = MR-MC

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