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Living in Michigan and learning important business terms like net profit

To be an informed citizens during these days of economic transition and uncertainty, it's important to know some business and accounting terms and what they mean.

For instance, in today's online versions of the Detroit Free Press and other papers, there are stories about Toyota and how its net profit for the third quarter was up 34 percent. 

Okay, what is net profit?  Wikipedia has an answer.  It is equal to the gross revenue for a given time minus associated expenses.

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