Question

what do you mean by profit and losses ​

Answer 1

Hello

The profit and loss (P&L) statement is a financial statement that summarizes the revenues, costs and expenses incurred during a specified period, usually a fiscal quarter or year. ... These records provide information about a company's ability or inability to generate profit by increasing revenue, reducing costs or both.

hope it's help..

Answer 2

Answer:

Profit is the gain we receive in selling an article.

Loss is the money we lose in selling an article.

Step-by-step explanation:

Profit = Selling Price - Cost Price.

Loss = Cost Price - Selling Price.