What is P& L? If you are aware, kindly give a brief about it.

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P&L stands for Profit and Loss. It is a financial statement that shows a company's revenues, expenses, and net income or loss over a specific period.

P&L is also known as an income statement.
It is used to evaluate a company's financial performance.
The statement shows the company's revenue, cost of goods sold, gross profit, operating expenses, and net income or loss.
P&L is important for investors, creditors, and management to make informed decisions.
Example: A company's P&L statement shows that it had $1 million in revenue, $500,000 in cost of goods sold, $200,000 in operating expenses, and $100,000 in net income for the year.

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