False, Profit is determined by calculating the difference between expenses and revenues.
Profit is the term used to describe the financial gain experienced when the revenue from a company activity outpaces the costs, and taxes incurred to support the activity in question.
Any profits generated return to the company's owners, who can decide whether to keep the money for themselves, pay dividends to shareholders, or reinvest it in the company. The money a business keeps after deducting all costs is its profit. Any business's main objective is to make money, so a company's performance is measured by its profitability in all of its forms. The income statement lists all three of the main categories of profit: gross profit, operating profit, and net profit. Each profit kind provides analysts with additional details about a company's performance.
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