Which of the Following Is the Correct Order of Preparation

question 45

Multiple Choice

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

• 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:

Tectonic Activity

The movement and interaction of the Earth's lithospheric plates, which can result in earthquakes, volcanic eruptions, and the creation of mountain ranges.

Tidal Forces

The gravitational forces exerted by celestial bodies, leading to the rise and fall of the sea levels on Earth.

Lunar Highlands

The lighter, heavily cratered regions of the Moon, which are elevated several kilometers above the darker, smooth maria.

Heavily Cratered

Having a large number of craters, typically referring to a planetary surface impacted by meteorites or asteroids.