Exactly we don`t know whether we get a profit or loss at the end of the a

Why do call p&la/cas a P&l a/c ?, why not P{or}L a/c

Question Posted / laxman

Answer Posted / laxman

Exactly we don`t know whether we get a profit or loss at
the end of the accounting period, thats why we call p&l a/c.

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