Profit And Loss Statement
Definition of "Profit and loss statement"
Same as term income statement: Also called profit and loss statement. A financial statement depicting a business entity's operating performance and reports the components of net income, including sales of real estate, rental income, operating rental expenses, income from rental operations, and income before tax. The income statement shows the cash flow for an entire accounting period, usually a quarter. The income statement is included in the annual report of the real estate corporation.
Popular Real Estate Terms
In the business world, the definition of override means a salesperson paying a commission to a supervisor or another agent. The meaning of override refers to an arrangement for acquitting ...
Form of deed used in the transfer or real property. It is somewhat narrower than a warranty deed in terms of covenants and warranties. ...
The willingness of a lender to give a mortgage to a mortgagor. A mortgage commitment will give a time period the mortgage will be given and an indication of the interest rate to be charged ...
Thinking about selling your own home without an agent? You can. For Sale By Owner or FSBO is how it’s called in the real estate world. It's when a homeowner decides to sell his/her ...
Where property is sold to the highest bidder. ...
Putting a waterproofing substance on the exterior cement walls of the structure to prevent water from entering the interior of structure. The cracks in the walls are patched up. ...
Contractual clause allowing one or both parties to terminate the agreement if a specified occurrence takes places. This is a cancellation clause, which allows the agreement to become null ...
Device that cuts off an electric circuit when the current becomes to strong. ...
Any walls constructed without using concrete or mortar. Drywall materials include sheetrock, gypsum, plywood, Styrofoam, and pressed fiver. See also drywall construction. ...
Have a question or comment?
We're here to help.