Question:
In what order are the four primary financial statements (statement of stockholders' equity, income statement, balance sheet, and statement of cash flows) prepared?
Financial Statements:
Basically, there are four financial statements each with a different purpose and all these financial statements are reported and filed annually so that the users of financial statements such as investors and creditors can analyze the financial performance and financial position of the company and make investment decisions accordingly.
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The order in which the four primary financial statements are prepared is given below:
Explanation:
| Financial statements | |
| 1 | Income statement |
| 2 | Balanc... |
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