rohith
asked
Hi I want to know, what is the difference between profit and gain?
0
0
Answer Now
Comment
Report
2
Answers
narahari
answered
Profit: Income derived from the regular business activity, by deploying caplital labour and time.In other words it is the return on the capital employed after deducting all working capital and fixed expenses.usually appears on the liabilities side of the balance sheet.
Important Note – Preparing for CA Final?
CAKART provides Indias top faculty each subject video classes and lectures – online & in Pen Drive/ DVD – at very cost effective rates. Get video classes from CAKART.in. Quality is much better than local tuition, so results are much better.
Watch Sample Video Now by clicking on the link(s) below –
For any questions Request A Call Back
aakash
answered
Profit: Income derived from the regular business activity, by deploying caplital labour and time.In other words it is the return on the capital employed after deducting all working capital and fixed expenses.usually appears on the liabilities side of the balance sheet.
Gain: Income derived on investment over a period of time time not falling under regular business activity.it is the return derived on investment.
