PROFIT Definition

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PROFIT is the excess of revenues over outlays in a given period of time (including depreciation and other non-cash expenses).

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TARE WEIGHT is the weight of packing container and packaging material without the weight of the goods contained therein.

ACCOUNTING INCOME is the income derived through historical accrual based accounting. Income = the change in net assets occurring during the period excluding transactions with owners; i.e. transaction based.

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