The balance sheet should be prepared
A)before the income statement and the statement of stockholders' equity
B)before the income statement and after the statement of stockholders' equity
C)after the income statement and the statement of stockholders' equity
D)after the income statement and before the statement of stockholders' equity

Question

Quizplus · Accepted Answer

The balance sheet is prepared after the income statement and the statement of stockholders' equity because it uses information from these statements to show the company's financial position at a specific point in time.

The Balance Sheet Should Be Prepared