Iomanip setprecision question

[Need4Sleep]

My teacher marked me wrong for the following:
cout << setprecision(2) << fixed << showpoint;

As opposed to the 'correct' answer:
cout << fixed << showpoint << setprecision(2);

Don't these do the exact same thing? Just want to make sure so I don't look like an idiot when I argue this question that put me at an 89 instead of a 91 . Thanks!

[Aceix]

I also know the right thing as

cout << setprecision(2) << fixed << showpoint;

Becase one must manipulate the stream before it brings out(flush) the result, and not after...

CMIIW