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Home Q & A Board Other Fields Homework Help Business Accounting
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Harrison Harrison
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5 years ago
Why does an accountant prepare the income statement first?
A) Net income must be computed first to properly complete the other financial statements.
B) It is easier to adjust income statement accounts first than it is to adjust balance sheet accounts.
C) Management, being profit oriented, is more interested in the company's net income than in the assets the company owns and the debts it owes.
D) There is no particular order in which financial statements must be prepared.
Textbook 
Financial Accounting, Canadian Edition

Financial Accounting, Canadian Edition


Edition: 5th
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AlexmosutheAlexmosuthe
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5 years ago
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