In What Order Are Financial Statements Generally Prepared

question 50

Multiple Choice

In what order are financial statements generally prepared?

• A) Balance sheet, income statement, and statement of retained earnings
• B) Income statement, statement of retained earnings, and balance sheet
• C) Income statement, balance sheet, and statement of retained earnings
• D) Statement of retained earnings, balance sheet, and income statement

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Definitions:

Operator

In programming, a symbol that represents an operation (like addition or comparison) performed on one or more operands.

Aggregate Function

A function in computing that performs a calculation on a set of values and returns a single value, often used in database queries.

Average Amount

The result obtained by adding several quantities together and then dividing this total by the number of quantities.

Start Date

The specified day when an event begins or a contract comes into effect.