Sentences with profit and loss statement
prof·it and loss state·ment
P p - The profit and loss statement is a summary of the business income after expenses are paid.A cash budget is solely concerned with the timing of cash receipts and payments during a period, whereas a profit and loss statement is concerned with the revenue and expenses which accrue during a period.A profit and loss statement is a statement that is compiled at the end of a financial year showing that year's revenue and expense items and indicating gross and net profit or loss.