Revenue, Expense, and Drawings are all examples of owner’s equity accounts.

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06-01-2021
Business

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Revenue, Expense, and Drawings are all examples of owner’s equity accounts.

Sagot :

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Samawatiidn Samawatiidn · Answer 1 · 2021-01-09T08:22:52-05:00

Answer:

True

Explanation:

Equity is the owner's interest in a business. It is made up of the owners' contribution plus any gains or losses realized from the business.

Equity is increased by additional capital or when the business makes a profit. It decreases when the owner makes some drawings or when the business incurs losses.

Equity accounts include drawing because they reduce equity. Revenue account increases profits and capital and expenses accounts that reduce equity.

Sagot :

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