Four Financial Statements Are Usually Prepared for a Business

question 76

Multiple Choice

Four financial statements are usually prepared for a business. The statement of cash flows is usually prepared last. The statement of stockholders' equity (SSE) , the balance sheet (B) , and the income statement (I) are prepared in a certain order to obtain information needed for the next statement. In what order are these three statements prepared?

• A) I, SSE, B
• B) B, I, SSE
• C) SSE, I, B
• D) B, SSE, I