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Sticky Note
The income statement should be prepared _______?
آمدنی کا بیان ______ تیار کیا جانا چاہئے؟
  1. After the balance sheet and before the retained earnings statement
  2. Before the retained earnings statement and balance sheet
  3. After the retained earnings statement and before the balance sheet
  4. None of these
Explanation
  • The income statement is prepared first as it determines the net income or loss, which is needed for the retained earnings statement.

  • The retained earnings statement then helps in preparing the balance sheet by updating equity figures.

    • Related MCQs

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    بولی کا مطلب کیا ہے؟
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    بے ترتیب نمونے لینے کا نام ______ ہے؟
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    جسمانی وجود رکھنے والے اثاثوں کو _____ کہا جاتا ہے؟
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    انوینٹری مینجمنٹ میں ایف آئی ایف او کا مطلب کیا ہے؟
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    تمام بولی ______ کھولی جاتی ہیں؟
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