The Correct Data Flow from One Financial Statement to the Next

question 62

Multiple Choice

The correct data flow from one financial statement to the next is:

• A) statement of retained earnings, income statement, balance sheet, statement of cash flows.
• B) balance sheet, statement of retained earnings, income statement, statement of cash flows.
• C) statement of retained earnings, income statement, statement of cash flows, balance sheet.
• D) income statement, statement of retained earnings, balance sheet, statement of cash flows.

---

Definitions:

Business Sector

A segment of the economy that represents the activities of businesses, corporations, and private enterprises that provide goods and services to consumers.

Deng Xiaoping

A Chinese communist leader who initiated significant economic reforms in China from the late 1970s, leading to its market economy transformation.

Civilian Goods

Items produced for use by civilians, rather than for military purposes.

National Defense

The protective measures taken by a nation in order to defend itself against potential aggressors, including military forces and defense strategies.