Profit is defined as income less expenses (such as debt payments and operating costs such as materials and labor). Thus, if your company experiences a return on investment (ROI), it also means that it is profitable. A loss, on the other hand, occurs when your company fails to generate enough revenue to cover all of its operating expenses. Similarly, if your company suffers from losses for an extended period of time, it may face bankruptcy.
As a result, it's critical to track, manage, and understand your profit and loss with the help of a dependable mobile-enabled cash flow tool like Moolamore so your business can stay afloat and thrive.
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