Well I don' know how "whippersnapperish" you are, but you're close enough to win a cigar. It stood for Long Playing.

After 78s, and the 45 single, to have a record you could put on, and have it play for 20 to 30 minutes, nonstop, made it, indeed, a 33 & 1/3 RPM "long playing" record album. I don't why the term "album" continued in use, but it did. Just habit I guess.

Jack

"People generally quarrel because they cannot argue." - G. K. Chesterton