Four financial statements are usually prepared for a business. The statement of cash flows is usually prepared last. The retained earnings statement (RE), 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, RE, and B
B) B, I, and RE
C) RE, I, and B
D) RE, B, and I
A
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Indicate whether the statement is true or false
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