1. Four financial statements are usually prepared for a business enterprise. The Statement of Cash Flows is usually prepared last. The Retained Earnings Statement (RE), the Balance Sheet (BS), and the Income Statement (IS) are prepared in a certain order to obtain information needed for the next statement. In which order are these financial statements prepared? a. BS, RE, IS b. BS, IS, RE c. RE, IS,BS d. IS, RE, BS e IS, BS, RE 2. Which of the following is not a business transaction? a. render services b. sign a contract for future services c. receive cash for services to be rendered later d. pay for supplies e. pay dividends 3. The process of initially recording a business transaction is called a. sliding b. posting c. journalizing d. transposing e. closing 4. If the two totals of the trial balance are not equal, it could be due to the following type of error a. failure to record a transaction or to post a transaction b. recording the same erroneous amount for both the debit and credit parts of the transaction error in determining the account balance, such as the balance being incorrectly calculated c. d. recording the same transaction more than once e. none of the above