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What Is a Profit Loss Statement?

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What Is a Profit Loss Statement?

Otherwise known as an income statement or statement of operations, a profit-and-loss statement is a financial statement that summarizes your business’s income and expenses. It shows you whether you have a profit or a loss for a given period of time. You can produce a profit-and-loss statement for last month, last year, and even yesterday ...

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Profit and Loss Statement

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