The correct answer is 1, profit equals the total amount of money made minus the production cost.
In financial terms, you have a profit when the amount of revenue gained from a business interaction surpasses its expenses as well as cost and taxes.
The calculation of profit is total revenue minus total expenses.
In the financial income statement of a company, accounting people take in consideration three kinds of profits: gross profit, net profit, and operating profit.
The answer would be A because the terrain was terrible for farming. Because of this, New England relied more on trade than agriculture.
An expansion of credit and speculation.
