Definition:
Net income is total sales minus all costs incurred in the period.
Example:
If your company generates Earnings Before Tax (EBT) of $10,000 and is liable to pay $2,000 of tax, your net income would be $8,000.
Why it matters:
Net income is the amount of profit (or loss) that a company generates over a specified period.
Definition:
Net income is total sales minus all costs incurred in the period.
Example:
If your company generates Earnings Before Tax (EBT) of $10,000 and is liable to pay $2,000 of tax, your net income would be $8,000.
Why it matters:
Net income is the amount of profit (or loss) that a company generates over a specified period.
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