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Profit and Loss Statement

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Profit and Loss Statement

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What Is A Profit and Loss Statement?

A Profit and Loss Statement can be used in many cases. It is requested in court to deal with the matters of debt, alimony, or bankruptcy. Banks need it from their customers when they apply for a mortgage, a new credit line, or a business loan. It also describes the financial situation of a person and often becomes a decisive factor for the lending party.

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