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In the context of trade and business, what does profit represent?
  • a)
    Selling price minus cost price
  • b)
    Cost price minus selling price
  • c)
    Marked price minus selling price
  • d)
    Selling price minus discount price
Correct answer is option 'A'. Can you explain this answer?
Verified Answer
In the context of trade and business, what does profit represent?a)Sel...
Profit in trade and business refers to the amount earned when an article is sold at a price higher than its cost price. It is calculated as the selling price minus the cost price, reflecting the financial gain from a transaction.
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In the context of trade and business, what does profit represent?a)Selling price minus cost priceb)Cost price minus selling pricec)Marked price minus selling priced)Selling price minus discount priceCorrect answer is option 'A'. Can you explain this answer?
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