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Profit and Loss Statement

06 Nov

 

An official quarterly or annual financial document published by a public company, showingearningsexpenses, and net profitNet income is determined from this financial report by subtracting total expenses from total revenue. The profit and loss statement and the balance sheet are the two major financial reports that every public company publishes. The difference between this statement and the balance sheet deals with the periods of time that each one represents. The profit and loss statement shows transactions over a given period of time (usually quarterly or annually), whereas the balance sheet gives a snapshot holdings on a specific date. also called income statement or earnings report

 
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Posted by on November 6, 2012 in Study and Read

 

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