Profits and losses are common financial terms used to describe the performance of a business. However, there are several other synonyms that can be used to describe this concept. One common phrase is "income and expenses," which refers to the money a business earns and spends. Another synonym is "revenue and costs," which are the income and expenses associated with a specific project or service. Additionally, "profitability and viability" is another term used to describe the financial performance of a business. Ultimately, no matter the synonym used, understanding the financial health of a business is essential for making informed decisions for growth and success.