Why do accountants close revenue and expense accounts prior to preparing the financial statements?

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Financial Accounting Information For Decisions

ISBN: 978-0324672701

6th Edition

Authors: Robert w Ingram, Thomas L Albright

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Question Posted: Jun 22, 2012 01:06 AM

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Why do accountants close revenue and expense accounts prior to preparing the financial statements?

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The closing entries zero out the revenue and expense account bal...View the full answer

Financial Accounting Information For Decisions

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