Which financial statement is prepared last?
A) income statement
B) balance sheet
C) statement of owner's equity
D) The financial statements can be prepared in any order.

Question

Quizplus · Accepted Answer

The balance sheet is prepared last, after the income statement and statement of owner's equity, because it summarizes the financial position of the company at a specific point in time and includes information from both of the other statements.

Which Financial Statement Is Prepared Last