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account statement vs profit and loss account

profit and loss account vs account statement

account statement and profit and loss account both are nouns.

Word NounAdjectiveVerbAdverb
account statement Yes No No No
profit and loss account Yes No No No
As nouns, profit and loss account is a hyponym of account statement; that is, profit and loss account is a word with a more specific, narrower meaning than account statement:
  • account statement: a statement of recent transactions and the resulting balance
  • profit and loss account: an account compiled at the end of an accounting period to show gross and net profit or loss
account statement (noun) profit and loss account (noun)
a statement of recent transactions and the resulting balance an account compiled at the end of an accounting period to show gross and net profit or loss
Difference between account statement and profit and loss account

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