profit and loss account

noun

1. income account ( def 2 ).

Word History and Origins

Origin of profit and loss account¹

First recorded in 1720–30

Example Sentences

They keep a weather eye on the profit-and-loss account, and retire like thrifty traders on a well-earned competency.

From Project Gutenberg

The profit-and-loss account in the long run always balances.

From Project Gutenberg