I think the reason we use "Booklet Front & Back" is probably because in some cases, we have a "Booklet Front" and a "Booklet Back" separately. If we split it up that way, then it makes more sense to people to see "Booklet Front & Back" because then they know that it is both the pages of the outside.
By the way, it seems many people don't know this but "pg" is not a correct abbreviation for page, it should be "p." for one page and "pp." for multiple pages.
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