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What is the difference between Income & Profit or its same?

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Question added by Deleted user
Date Posted: 2015/03/24

 It is the amount that remains after adding together all revenues and subtracting all expenses, including cost of goods sold and income taxes. It is important to differentiate between revenues and income, as revenues are the earnings of the company before subtracting expenses.

Mohammad Iqbal Abubaker
by Mohammad Iqbal Abubaker , Jahaca Pty Ltd - Accounts Administrator , Jahaca Pty Ltd - Accounts Administrator

There is no difference between Income & Profit, its same.

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