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Can a profit be negative?

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Manager
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Joined: 12 Dec 2012
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Can a profit be negative? [#permalink] New post 08 Jan 2013, 09:23
Question is related to: Manhattan Advanced GMAT Quant, Chapter 5., p. 93.

Quote:
c) Many other non-countable quantities are allowed to take on negative values. Examples:
- The profit of a company.
(...)


And my question is, if it is not a logical error? Could a profit be negative? I think of a negative profit as of a loss, and thus it should be called so every time it occurs. Negative profit is oxymoron.

What do you think? How does it look like on the GMAT?
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Manager
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Re: Can a profit be negative? [#permalink] New post 08 Jan 2013, 16:59
Which version of Advanced GMAT Quant are you using? Mine was published in 2012 and does not have that information on page 95. I would assume you would need to read the entire chapter to understand what they mean (there is probably some theory they are trying to explain).
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Re: Can a profit be negative? [#permalink] New post 09 Jan 2013, 05:28
you won' t have such a problem on the GMAT.
There would be no such thing as negative profit. They will call it a loss.
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Re: Can a profit be negative? [#permalink] New post 10 Jan 2013, 06:15
I am using Manhattan Advanced GMAT Quant, PDF version without the publisher’s imprint.

Anyway, it is on the 8th page of the 5th Chapter. I’ve read the whole chapter, but this is only an example of a GMAT-like trap, rather out of context.

I’ve done all the Manhattan Math Guides and I am used to and comfortable with the fact that Manhattan Guys make errors very, very, VERY occasionally. Therefore I wanted to confront this example with your opinion.

I am not GMAT expert, but I would like to agree with jumsumtak, that “a negative profit” should be called “a loss”. I uphold my mind that “a negative profit” is oxymoron, thus illegal.
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Re: Can a profit be negative? [#permalink] New post 10 Jan 2013, 11:44
Expert's post
On all of the tax/accounting forms it usually says Profit/Loss.
I think profit is positive by definition but 2 things:
1. Kudos to you for catching it - you should feel much more confident about your CR skills now.
2. Don't waste time on this as GMAC is much more careful about avoiding such logical discrepancies or debatable aspects.
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Manager
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Joined: 12 Dec 2012
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Location: Poland
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Kudos [?]: 93 [0], given: 67

Re: Can a profit be negative? [#permalink] New post 12 Jan 2013, 16:30
Thanks for the Kudo bb. I would have started reporting those slips straight from the beginning if I knew. There isn't too many of them, even though the Manhattan Advanced Quant have plenty as compared to the Guides.

So far I haven't started with my verbal prep yet, but I've passed TOEFL (with 28 in reading) and its German counterpart TestDaF, so hopefully the verbal part will be the easier one for me.
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Re: Can a profit be negative?   [#permalink] 12 Jan 2013, 16:30
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