Question

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What is an P&l account??
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Answer 1

$<b>●•••••••☆Hello User☆••••••••● 《《Here is your answer》》 ______________________ One of the major differences between the profit and loss statement and the balance sheet involves their respective treatments of time. The balance sheet summarizes the financial position of a company for one specific point in time. The P&L statement shows revenues and expenses during a set period of time. An income statement or profit and lossaccount (also referred to as a profit and loss statement (P&L), statement of profit or loss, revenue statement, statement of financial performance, earnings statement, operating statement, or statement of operations) is one of the financial statements of a company. _____________________ ●••••••☆Brainly Star☆•••••••●</b>$