The Financial Statements Should Be Prepared in What Order

question 5

Multiple Choice

The financial statements should be prepared in what order?

• A)Income statement, statement of owner's equity, balance sheet, statement of cash flows
• B)Statement of owner's equity, balance sheet, income statement, statement of cash flows
• C)Balance sheet, statement of owner's equity, income statement, statement of cash flows
• D)Balance sheet, income statement, statement of owner's equity, statement of cash flows

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Definitions:

U.S.Sentencing Commission

An independent agency of the judicial branch of the U.S. federal government responsible for establishing sentencing policies and practices for the federal courts, including guidelines on the sentencing of convicted offenders.

Federal Sentencing Guidelines

Rules set out by the federal government to determine the appropriate sentence for individuals and organizations convicted of federal crimes.

Judicial Discretion

The authority given to judges to make decisions based on what they believe is fair and in accordance with the law, especially in areas not explicitly outlined by statute.

USA PATRIOT Act

Legislation enacted to strengthen domestic security and broaden the powers of law enforcement agencies with regards to identifying and countering terrorist activities.