Which of the following terms is not equivalent to "profit"?
A) Net income
B) Excess revenue over expenses
C) Addition to the fund balance
D) Equity

Question

Quizplus · Accepted Answer

Equity refers to the ownership value in a company, which includes retained earnings and other components, but it is not synonymous with profit. Profit is typically referred to as net income or excess revenue over expenses.

Which of the Following Terms Is Not Equivalent to "Profit