Which of the Following Statements Should Be Prepared Before the Balance

question 20

Multiple Choice

Which of the following statements should be prepared before the balance sheet is prepared?

• A)Statement of cash flows
• B)Both the statements of retained earnings and cash flows
• C)Statement of retained earnings and statement of financial position
• D)Income statement and statement of retained earnings

---

Definitions:

State Laws

Regionally-specific legal frameworks enacted by individual states within a country, governing aspects not covered by federal law.

Workplace Protection

Laws and regulations designed to ensure safety and fairness for employees in their place of work.

Disparate Treatment

A form of intentional discrimination in which an employee is hired, fired, denied a promotion, or the like, based on membership in a protected class. This is a form of intentional discrimination.

Intentionally Discriminates

Deliberate actions or policies that unfairly treat individuals or groups based on their characteristics, such as race, gender, or age.