Which of the following is prepared first?
A) Balance sheet
B) Income statement
C) Statement of owner's equity
D) Trial balance

Name: Which of the following is prepared first? A) Balance sheet B) Income statement C) Statement of owner's equity D) Trial balance
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Question

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A trial balance is prepared first in the accounting cycle to ensure that debits equal credits before financial statements can be prepared.

Which of the Following Is Prepared First