Which of the Following Is the Correct Order of Preparation

question 223

Multiple Choice

Which of the following is the correct order of preparation of financial statements?

• A) Income statement → statement of retained earnings → balance sheet → statement of cash flows
• B) Statement of retained earnings → balance sheet → income statement → statement of cash flows
• C) Balance sheet → statement of retained earnings → income statement → statement of cash flows
• D) Balance sheet → income statement → statement of retained earnings → statement of cash flows

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Definitions:

Recognition

The acknowledgment or appreciation of someone's efforts, achievements, or status.

Feedback

is the information given to individuals or systems about their performance, intended to reinforce strengths or improve weaknesses.

Energize

To activate and mobilize, as in empowering people to accomplish results, an essential leadership function.

Deloitte

A global professional services network known for providing audit, consulting, financial advisory, risk advisory, tax, and related services.