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English definition of “profit-and-loss account”

profit-and-loss account

noun [C]     UK (abbreviation P and L account, P and L, P & L, also revenue account, US profit and loss statement)
ACCOUNTING, FINANCE a document that shows a company's profit or loss in a particular period: This loss would be shown as a charge in the profit and loss account. → See also earnings report, income statement → Compare income and expenditure account
(Definition of profit-and-loss account noun from the Cambridge Business English Dictionary © Cambridge University Press)
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