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The correct order for the preparation of financial statements is? 1. statement of cash flows 2. income statement 3. balance sheet 4. statement of retained earnings

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The order which is correct is 2, 4, 3, 1. Income statement, Statement of retained earniings, Balance sheet, Statement of cash flow.

What is financial statement?

The presentation of relevant financial data is done in a methodical manner and in an easy-to-understand format.

The three main company reports are combined into one document called a financial statement. It will include the company's income statement, balance sheet, and cash flow statement.

Financial statements are routinely audited by government agencies, accounting firms, etc. to ensure their accuracy and for tax, financing, or investment reasons.

An income statement is a type of financial statement that shows the revenue and expenses of a firm.

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