Definition
Net income, also known as net profit or bottom line, is the total profit or loss earned by a company after deducting all expenses, taxes, interest, and other deductions from its total revenue. Net income reflects the overall financial performance of a company and represents the amount of earnings available to shareholders after accounting for all costs and obligations. Net income is a key measure of profitability and is reported on the income statement as the final line item.
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Private Limited Company (Ltd)
A Private Limited Company (Ltd) is a type of company where the ownership is divided into shares held by a small number of shareholders. The liability of shareholders is limited to the amount unpaid on their shares, and the company’s shares cannot be traded publicly on the stock exchange.
Limited Liability Partnership (LLP)
A Limited Liability Partnership (LLP) is a business structure where partners have limited personal liability for the debts and obligations of the partnership. Each partner’s liability is limited to their investment in the LLP, and they are protected from the actions of other partners.