What is the correct order to create the financial statements? a) Balance Sheet, Income Statement, Statement of Retained Earnings, Statement of Cash Flows b) Statement of Cash Flows, Balance Sheet, Statement of Retained Earnings, Income Statement c) Income (2024)

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Question: Financial Statements: Answer and Explanation:1

Question:

What is the correct order to create the financial statements?

a) Balance Sheet, Income Statement, Statement of Retained Earnings, Statement of Cash Flows

See Also
The Four Core Financial Statements - principlesofaccounting.comObjectives of Financial StatementsBalance sheet and income statement relationship (video) | Khan AcademyLinking Three Financial Statements - Example

b) Statement of Cash Flows, Balance Sheet, Statement of Retained Earnings, Income Statement

c) Income Statement, Statement of Retained Earnings, Balance Sheet, Statement of Cash Flows

d) Income Statement, Balance Sheet, Statement of Retained Earnings, Statement of Cash Flows

Financial Statements:

Financial statements are the records reported by companies to show their business activities. The financial statements show the financial performance of the company. Hence, they are used by investors to evaluate the weaknesses and strengths of a company.

See Also
The relationship between balance sheets and profit and loss accounts

Answer and Explanation:1

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  • The correct answer is c) Income Statement, Statement of Retained Earnings, Balance Sheet, Statement of Cash Flows.

Note that the financial statements...

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What is the correct order to create the financial statements? a) Balance Sheet, Income Statement, Statement of Retained Earnings, Statement of Cash Flows b) Statement of Cash Flows, Balance Sheet, Statement of Retained Earnings, Income Statement c) Income (2024)
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