What’s the difference between Net profit/ Net operating revenue? It’s quite confused in the Project Management flashcards, all described as deduct expenses. Is net profit the same as net income (which need to deduct tax)?
The difference between general liability and commercial general liability?
Net Profit -
The dollars remaining after deducting all direct and indirect labor and indirect expenses before any distributions are made or tax is paid.
Net Operating Revenue - Represents the net dollars remaining after deducting the invoiced consultant’s fees and expenses and all reimbursable and non-reimbursable project-related expenses.