QUESTION 1 The purpose of the statement of retained earnings is to stay in balance. True False QUESTION 2 The timeframe of an income statement is over a period of time because it is a summary for the accounting period. True False The income statement is the first financial statement prepared and the timeframe is over a period of time. bd O True False QUESTION 4 Looking at the order of the accounting process, the unadjusted trial balance is the last step. True False QUESTION 5 The unadjusted trial balance is not a part of the accounting process. True False