profit and loss account

A transfer account of all income and expense accounts, closed into the retained earnings of a corporation or the capital account of a partnership. [Cases: Corporations 311; Partnership 81. C.J.S. Corporations §§ 505–506; Partnership §§ 91, 336, 340.]

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词条贡献者

资深译员Sheldon，毕业于亚洲顶尖的高级翻译学院，擅长翻译有关零售和消费品领域的法律文件。