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Explain role of profit in business

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Explain role of profit in business

Posted by Sompal K 3 years, 4 months ago

CBSE > Class 11 > Business Studies

2 answers

Mahi Yadav 3 years, 4 months ago

The success of a small business depends on its ability to continually earn profits. Profits is the total revenue from sales minus the total cost of resources employed by the entrepreneur. Earning a profit is important to a small business because profitability impacts whether a company can secure financing from a bank, attract investors to fund its operation and grow its business. Companies cannot remain in business without turning a profit .

3Thank You

Parul Kushwaha 3 years, 4 months ago

Profit is a source of finance for expansion and diversification of business activities, A part of the profits can be retained for increasing the volume of the business. ... or goodwill of the business firms. With profit increasing over time, a business enterprise gains reputation.

1Thank You

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CBSE > Class 11 > Business Studies

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