Profit and loss statement

{
  "id": "MLC-T-LAW-003954",
  "term": "Profit and loss statement",
  "field": "Law",
  "definition": "A financial report summarizing a company's revenues, costs, and expenses over a specific period, such as a quarter or a year. This statement, also known as an income statement, shows how net income or loss is derived. It provides insight into a business's operational performance and financial health.",
  "url": "https://mlchart.com/terminology/law/profit-and-loss-statement/"
}