Which financial statement is typically prepared first?

A. Income statement.
B. Statement of cash flows.
C. Statement of stockholders' equity.
D. Balance sheet.


Answer: A

Business

You might also like to view...

Studies show that the convenience of shopping carts can be a "secret weapon" to getting customers to buy moreā€“even in stores that normally do not use carts

Indicate whether the statement is true or false

Business

William Smith is a sole proprietor of a successful business. He is interested in incorporating to protect his personal assets. Which advantage of incorporation is most applicable? What are other advantages of organizing as a corporate entity?

What will be an ideal response

Business

Which of the following is true of a contingent liability?

A) It is a potential liability that depends on a future event. B) It is an actual liability that is difficult to estimate. C) It is an actual liability that depends on a past event. D) It is a liability resulting from a lawsuit settled in court.

Business

Claims of unequal pay for jobs of comparable worth may be brought under:

A) Title VII. B) The Equal Pay Act. C) OSHA. D) The Civil Rights Act.

Business