profit and loss statement

Definition of "profit and loss statement"
  1. A document displaying a business's total earnings and costs, assisting in calculating the net gain or deficit over a certain period
How to use "profit and loss statement" in a sentence
  1. The small business owner reviewed the profit and loss statement to evaluate her company's performance.
  2. The accountant prepared the profit and loss statement for the annual report.
  3. Understanding the profit and loss statement is crucial to making informed financial decisions.
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