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.
Earnings before interest and taxes. In accounting and finance, earnings before interest and taxes (EBIT), is a measure of a firm's profit that includes all expenses except interest and income tax expenses. It is the difference between operating revenues and operating expenses. When a firm does not have non-operating income, then operating income is sometimes used as a synonym for EBIT and operating profit.