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What is profit?
Profit: revenue-costs
When do you make profit and when do you make a loss?
When he revenue is higher than the costs you make a profit, when the revenue is lower than the costs you make a loss.
Why is profit important?
Profit is a motivator. It attracts investors. It's a reward. It can help to finance the business. It's measurable success. Guide for future investments.
What is profit maximisation?
Profit maximisation is a process businesses undergo in order to determine best output and price levels in order to maximise profits.
What is retained profit?
This is profit that is reinvested into the business
What is dividend?
A payment made from the company to the shareholders out of the profit.
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