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Prepared in a particular order of income statement

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Reference no: EM132464777

Financial Statement order of preparation. - Financial statements are always prepared in a particular order:

Point 1. Income Statement

Point 2. Statement of Owner's Equity

Point 3. Balance Sheet

Point 4. Statement of Cash Flows

Question 1: Discuss the reason for the order of the reports.

Reference no: EM132464777

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