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English definition of “income and expenditure account”

income and expenditure account

noun [C]
 
 
ACCOUNTING a record of money received and spent by a business or organization during a particular period: We find, after closing up our income and expenditure account, that we have a surplus of $24K. →  Compare profit-and-loss account
(Definition of income and expenditure account from the Cambridge Business English Dictionary © Cambridge University Press)
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