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The P&L

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The Profit & Loss Statement is a financial picture of income, expenses, and net income during a period of time. In simple terms, it is the real-time view of what you made, how much you spent, and what you kept. Having an accurate P&L will give you all the information you need to achieve your financial goals.

Definition of Income

Noun                                                               "Money received, especially on a regular basis, for work or through investments."

Definition of Expenses

Noun                                                               "The cost required for something; the money spent on something."

Definition of Profit Margin

Noun                                                               "The amount by which revenue exceeds expenses."

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