Four Financial Statements Are Usually Prepared for a Business

question 61

Multiple Choice

Four financial statements are usually prepared for a business.The statement of cash flows is usually prepared last.The retained earnings statement (RES) ,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,RES,B
• B) B,I,RES
• C) RES,I,B
• D) B,RES,I

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Definitions:

Wrapped Packs

Sterilized packages containing medical or surgical instruments and supplies, prepared for use in various procedures.

Steam Cycle

A process used in power generation where water is heated to produce steam, which then drives a turbine to generate electricity, followed by condensing the steam back into water to be reheated.

Autoclaved Load

Materials or instruments that have been sterilized in an autoclave, a pressurized steam sterilizer.

Blocked Discharge Lines

Pipes or tubes that are obstructed, preventing fluids or gases from flowing out as intended.