Dictionary

profit and loss

noun

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

1588

Browse

2 ENTRIES FOUND:
Next Word in the Dictionary: profit and loss statementPrevious Word in the Dictionary: profitableAll Words Near: profit and loss
July 03, 2015
interpellate Hear it
to formally question a public official
Take a 3-minute break and test your skills!
How to use a word that (literally) drives some people nuts.
Test your vocab with our fun, fast game
Ailurophobia, and 9 other unusual fears