❓ASK – Knowing the difference between income and profits | Proxies-free

When people get into a business, they often tend to confuse the two terms of income and profit, and generally to show their success in a business they speak of teh large income that they are able to generate. However income and profit have two very distinct meanings. According to my personal opinion and definition, income is the total money generated by teh business, whereas the profit is the extra money that you are making after taking into account your expenses. Having a large income with large expenses reduces your profit and in turn your successfulness of the business.