profit and loss is calculated on
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A profit and loss statement is calculated by totaling all of a business's revenue sources and subtracting from that all the business's expenses that are related to revenue.
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A profit and loss statement is calculated by totaling all of a business's revenue sources and subtracting from that all the business's expenses that are related to revenue. The profit and loss statement, also called an income statement, details a company's financial performance for a specific period of time.
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