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What is the difference between Profit & Gain? #SimpleQuestions

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تم إضافة السؤال من قبل Waqar Khan , Finance Specialist , Dulsco
تاريخ النشر: 2016/06/20
Manelle San Juan
من قبل Manelle San Juan , Accounting Staff , Century Pacific Food, Inc

While profit and gain will contribute to the income of the company, profit arises from the normal course or operation of the company while gain are only incidental or peripheral in nature.

 

mohamed Hakim CMA CPA Candidate
من قبل mohamed Hakim CMA CPA Candidate , Accounting Manager , Andersen saudi arabia

Agree with the answers 

 

good answers 

 

 

atif maqbool
من قبل atif maqbool , Financial Analyst , Al Ghurair Foods

profit=total revenue-total cost,which is the net icome of the organisation

gain can be anything over your cost,normally revenue over your cost is treated

مستخدم محذوف‎
من قبل مستخدم محذوف‎

Profit: Income derived from the regular business activity, by deploying capital labour and time. Gain: Income derived on investment over a period of time not falling under regular business activity. it is the return derived on investment.

Ellen Delovieres
من قبل Ellen Delovieres , General Accountant , Shehail Travels LLC

Profit is derived from business transactions while Gain is from selling an asset at higher price.