(Optional) Allocate profit.

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 options for profit distribution?
• What is the difference between for-profit and non-profit businesses?
• How can businesses exercise social responsibility through profit allocation?
• Why is it important for companies to be socially responsible?