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profit and loss statement

(Dictionary)

Author:
Harold Averkamp, CPA, MBA

Definition

Also referred to as the P & L and the income statement. To learn more, see Explanation of Income Statement.

Dictionary

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  • Debits and Credits
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About the Author

Harold Averkamp

For the past 52 years, Harold Averkamp (CPA, MBA) has
worked as an accounting supervisor, manager, consultant, university instructor, and innovator in teaching accounting online. He is the sole author of all the materials on AccountingCoach.com.

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