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:

Displacement

in psychological terms, is transferring feelings or actions from the original object of those emotions to another target.

Projection

Attributing one’s own thoughts, feelings, or motives to another person.

Regression

A return to an earlier or less advanced condition or state, often viewed in psychological contexts as a defense mechanism.

Defense Mechanisms

Largely unconscious reactions that protect a person from unpleasant emotions such as anxiety and guilt.