In the shareholders' equity accounts, why do accountants maintain separate accounts for revenues and expenses?

Question:

In the shareholders' equity accounts, why do accountants maintain separate accounts for revenues and expenses?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Financial Accounting A Global Approach

ISBN: 9780395839867

1st Edition

Authors: Sidney J. Gray, Belverd E. Needles

Question Posted: