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Four financial statements are usually prepared for a business. The statement of cash flows is usually prepared last.
5.Four financial statements are usually prepared for a business. The statement of cash flows is usually prepared last. The statement of owner's equity (OE), 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. B,OE, I
b. OE, I, B
c. B, I, OE
d. I,OE, B
6.Cash investments made by the owner to the business are reported on the statement of cash flows in the
a. investing activities section
b. financing activities section
c. operating activities section
d. supplemental statement
