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What does profit and loss account mean?

April 26, 2017account context examples definition dictionary loss mean profit sense synonyms

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What does profit and loss account mean?

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Sense 1profit and loss account [BACK TO TOP] Meaning: An account compiled at the end of an accounting period to show gross and net profit or loss Classified under: Nouns denoting possession and transfer of possession Synonyms: profit and loss; profit and loss account Hypernyms (“profit and loss account” is a kind of…): account; account statement; accounting (a statement of recent transactions and the resulting balance)