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The normal order in which the financial statements are prepared is:
A) Income statement, annual report, balance sheet.
B) Income tax return, income statement, balance sheet.
C) Balance sheet, income statement, statement of retained earnings.
D) Income statement, statement of retained earnings, balance sheet.

Respuesta :

federico1636

Answer:

D) Income statement, statement of retained earnings, balance sheet.

Explanation:

The order is

1)Income Statement

2)Statement of Retained Earnings – also called Statement of Owners’ Equity

3)The Balance Sheet

$)The Statement of Cash Flows

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