Individuals who wish to practice public accounting as a CPA must meet the requirements of the state in which they reside. True False Four financial statements are usually prepared for a business. The statement of cash flows is usually prepared last. The statement of owner's equity (OE), the balance sheet (B), and the income statement (I) are prepared in a certain order to obtain information needed for the next statement. In what order are these three statement prepared? I, OE, B B, I, OE OE, I, B B, OE, I The Financial Accounting Standards Board (FASB) is the authoritative body that has primary responsibility for developing accounting principles. True False