Psychology is both an academic and applied discipline involving the scientific study of mental processes and behavior. Psychologists study such phenomena as perception, cognition, emotion, personality, behavior, and interpersonal relationships. Psychology also refers to the application of such knowledge to various spheres of human activity, including issues related to daily lifeâe.g.
What is the amount a business earns over and above what it spends for salaries and other expenses. Answer. Profit is the term used to describe the amount a business is left after expenses such as wages, rent, materials, etc.
Net Profit. The net profit for your business equals the gross profit minus expenses for items such as rent, depreciation of assets, wages, taxes, utilities, supplies, insurance and licenses. The IRS also calls net profit âordinary business income.â This is the amount youâll pay tax on.