If income is higher than expenditure, this is known as?

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Multiple Choice

If income is higher than expenditure, this is known as?

Explanation:
When income exceeds expenditure, you have a profit. Profit is the positive difference between what you earn (revenue/income) and what you spend (expenditure/expenses). It represents the net financial gain from activities. The other terms don’t fit: a loss happens when expenses exceed income; a budget is a planned outline of expected income and spending; revenue is the total income before subtracting costs, not the net surplus.

When income exceeds expenditure, you have a profit. Profit is the positive difference between what you earn (revenue/income) and what you spend (expenditure/expenses). It represents the net financial gain from activities. The other terms don’t fit: a loss happens when expenses exceed income; a budget is a planned outline of expected income and spending; revenue is the total income before subtracting costs, not the net surplus.

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