P&L Statement

P&L stands for “profit and loss.” We like the P but hate the L. It’s also called an “income statement.” Companies have P&Ls to show how much money they’ve made and how much money they’ve spent. Your online bank statement is like your very own P&L. Sometimes it can be very good or very bad. P.S. Sometimes people will confuse the abbreviation and say “PNL.” That doesn’t exist, so don’t be that person.

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