Question

what is profit and loss​

Answer 1

Answer:

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. The P&L statement is synonymous with the income statement.

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Answer 2

Answer:

Step-by-step explanation:

profit means gaining of money

and

Loss means losing of money

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