Which financial statement is prepared last?
A) Statement of Owner's Equity
B) Balance Sheet
C) Income Statement
D) None of the above

Name: Which financial statement is prepared last? A) Statement of Owner's Equity B) Balance Sheet C) Income Statement D) None of the above
Brand: Quizplus
Rating: 4.7 (33 reviews)

Question

Quizplus · Accepted Answer

The Balance Sheet is prepared last because it uses information from the Income Statement and the Statement of Owner's Equity to show the financial position of the business at a specific point in time.

Which Financial Statement Is Prepared Last