Meaning of “profit-and-loss account” in the English Dictionary


"profit-and-loss account" in Business English

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profit-and-loss accountnoun [ C ]

uk us 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.

(Definition of “profit-and-loss account” from the Cambridge Business English Dictionary © Cambridge University Press)