Why is it Profit and loss?

Why do we say Profit n loss statement and not Profit or loss statement?

asked Feb 11, 2017 in General by Jyothi (2 points) 60 views

1 Answer

0 votes
Your view point is that this statement will ultimately give profit or loss, hence it should be called Profit or Loss Statement.  Actually this statement is made of a number of individual profits and losses, hence it is called Profit and Loss Statement.
answered Feb 11, 2017 by jbsclasses (3,971 points)