User: what would happen if the revenue account was not closed at the end of the accounting period. Just think, if you ran a business and your revenues for the first quarter were $25,000 and $30,000 for the second quarter. If you did not close out the revenue account for the first period you would start the second period with a balance of $25,000 in the account and thereby end the second period with $55,000 in revenue as opposed to the correct revenue figure of $30,000.

Note: ... revenues that were earned during an accounting period may not have ... during the quarter, actually end up with ... your chances of choosing a winner. What You Need ... [www.answers.com/topic/cash-flow-statement]
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