Which of the Following Is the Correct Order for Preparing

question 23

Multiple Choice

Which of the following is the correct order for preparing the financial statements?

• A)Balance sheet,statement of stockholders' equity,and income statement.
• B)Balance sheet,income statement,and statement of stockholders' equity.
• C)Statement of stockholders' equity,income statement,and balance sheet.
• D)Income statement,statement of stockholders' equity,and balance sheet.

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Definitions:

Firms

Business organizations or entities engaged in commercial, industrial, or professional activities.

Normative Statement

An assertion that expresses an opinion, value judgement, or what ought to be, rather than what is factual or descriptive.

Teachers

Professionals who help students to acquire knowledge, competence, or virtue in educational settings.

Factor Market

A marketplace where factors of production such as labor, capital, and natural resources are bought and sold.