/ Dictionary / Index P profit and loss account: Meaning and Definition of Find definitions for: prof'it and loss' account". Pronunciation: [key] See(def. 2). Random House Unabridged Dictionary, Copyright © 1997, by Random House, Inc., on Infoplease. profit and loss profit center Related Content Daily Word Quiz: fervor Analogy of the Day: Today’s Analogy Spelling Bee: Today’s Spelling Bee Frequently Misspelled Words Frequently Mispronounced Words Easily Confused Words Writing & Language