Which of the following best defines profit in a business context?

Profit in a business context is defined as the money left after expenses are deducted from total revenue. It represents the financial gain that a company achieves from its operations and is a vital measure of a business's performance and viability. Profit indicates how efficiently a company is managing its resources to generate income. This is essential for sustainability, allowing a business to reinvest, grow, and reward stakeholders.

The other choices do not capture the essence of profit. The total revenue before expenses does not account for the costs incurred in generating that revenue, making it an incomplete measure. The amount spent on employee wages, while an important cost component, does not represent profit since it only reflects a subset of total operational expenses. Lastly, the total cost of inventory relates to the expenses associated with goods held for sale, but it also does not provide a clear picture of profitability, as it does not account for the income generated from sales.