Question

what is the profit and loss account ​

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. ... These records provide information about a company's ability or inability to generate profit by increasing revenue, reducing costs, or both.

Answer 2

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. ... These records provide information about a company's ability or inability to generate profit by increasing revenue, reducing costs, or both.