Title: Allocate profit.
Course: Make It Your Business (12151-18) > Section: Operating and Evaluating a Business

Allocation of profit should include documentation that allocation is based on the business plan and related legal documents (e.g., partnership agreement).

Process/Skill Questions

- What is the definition of profit?
- What is the difference between net profit and gross profit?
- What are some options for profit distribution?
- What is the difference between for-profit and non-profit businesses?
- How can businesses be socially responsible with regard to profit allocation?
- Why is it important for companies to be socially responsible?