profit and loss


profit and loss


Definition of PROFIT AND LOSS

:  a summary account used at the end of an accounting period to collect the balances of the nominal accounts so that the net profit or loss may be shown

First Known Use of PROFIT AND LOSS



Next Word in the Dictionary: profit and loss statement
Previous Word in the Dictionary: profitable
All Words Near: profit and loss

Seen & Heard

What made you want to look up profit and loss? Please tell us where you read or heard it (including the quote, if possible).

Get Our Free Apps
Voice Search, Favorites,
Word of the Day, and More
Join Us on FB & Twitter
Get the Word of the Day and More