Definition
Profit, also known as net income or earnings, is the financial gain realized by a company after deducting all expenses from its revenue. Profit represents the surplus income remaining after all costs, taxes, interest, and other deductions have been subtracted from total revenue. Profitability is a key indicator of a company's financial performance and success, reflecting its ability to generate earnings and return value to shareholders. Profit is reported on the income statement as the bottom line or net profit.
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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.