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LSDefine

Simple English definitions for legal terms

P & L

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A quick definition of P & L:

Term: P & L

Definition: P & L stands for Profit and Loss. It is a report that shows how much money a business made and spent during a certain time period. This report includes all the money the business earned from sales, as well as all the money it spent on things like salaries, rent, and supplies. The P & L report helps business owners understand how much profit they made or how much money they lost during that time period.

A more thorough explanation:

P & L is an abbreviation for Profit and Loss. It refers to the income statement, which is a financial statement that shows all the revenues, expenses, gains, and losses that a business incurred during a given period.

For example, if a company had $100,000 in revenue and $80,000 in expenses during a quarter, their P & L statement would show a profit of $20,000. On the other hand, if a company had $80,000 in revenue and $100,000 in expenses during a quarter, their P & L statement would show a loss of $20,000.

Another example would be if a company had a gain of $5,000 from selling an asset and a loss of $2,000 from a bad debt during a quarter. Their P & L statement would show a net gain of $3,000.

The examples illustrate how the P & L statement shows the financial performance of a business during a specific period. It helps business owners and investors understand how much money the company is making or losing and where the money is being spent. By analyzing the P & L statement, businesses can make informed decisions about their operations and financial strategies.

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got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
WorthlessAttractiveZombie
7:44
My berkeley paragraph finally disappeared. I definitely think it is just an indicator that they are actively reviewing files, and does not mean anything about A, WL, or Rs
WorthlessAttractiveZombie
7:46
Also has anyone's date disappeared for W&L? Mine did last night
7:55
@WorthlessAttractiveZombie: mine did yesterday morning
7:56
Oops sorry I meant Vilanova. Mine disappeared last week
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