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English definition of “P and L account”

P and L account

noun [C]
( also P and L, P & L) ACCOUNTING, FINANCE
abbreviation for profit-and-loss account : Payments made under leasing arrangements should be included in a company's P and L account for the year. He called a meeting to go through the P & L.
(Definition of P and L account from the Cambridge Business English Dictionary © Cambridge University Press)
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