Profit is best described as
a. a gain in material items or money after any type of transaction.
c. a monetary loss after a transaction.
b. a monetary gain that occurs as the result of a transaction.
d. the term used to describe an equal trade in goods or services.

Profit is best described as (b) a monetary gain that occurs as the result of a transaction.

Explanation:  

A profit is an amount that could be considered as a gain received by a business following a transaction. For example, if a company that manufactures furniture spend $25 in producing a table and sells it for $35, the profit gained through the transaction would be $10. It is the additional amount received beyond the total cost spent on the table.  

Further explanation:  

The total cost of a product shall normally include components such as raw material, labor and overheads. Profit margin and profit markup are two common concepts that are commonly heard in relation to the above.  

Profit margin is the amount derived by deducting the cost of sales from the revenue earned. This figure is normally given as a percentage of revenue. It takes into account the total cost and the total revenue

Profit markup is the amount of money made by the company in relation to the direct costs pertaining to an item. It considers only the revenues and the direct costs.

Learn more:

1. Profit   by LearnGrow)

2. Profit markup (answer by mikenieto)

3. Gross profit (answer by perezjanet1)

Keywords

Profit, profit margin, profit markup