The net profit is calculated as

Assessment: WAEC SSCE - Commerce - 2008 (Objective) Subject: Commerce

Question 1 Report

The net profit is calculated as
Answer Details
The net profit is calculated as the revenue earned from sales minus all the expenses incurred in generating that revenue. This includes the cost of goods sold, operating expenses, taxes, and any other costs associated with running the business. In other words, it is the profit that remains after all the expenses have been subtracted from the total revenue. The formula for calculating net profit is: Net Profit = Total Revenue - Total Expenses
Read lesson note on Business Capital And Profits (WAEC)
Read lesson note on Commerce (JAMB)
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