Under IFRS, Owners' Equity Is Subdivided into Which of the Following

question 31

Multiple Choice

Under IFRS, owners' equity is subdivided into which of the following classifications in addition to capital stock and additional paid-in capital?

• A)reserves and accumulated profits and losses
• B)retained earnings and reserves
• C)retained earnings and accumulated profits and losses
• D)accumulated profits and losses only

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Definitions:

Federal Food, Drug, and Cosmetic Act

A set of laws passed by Congress giving authority to the FDA to oversee the safety of food, drugs, and cosmetics.

U.S. Food and Drug Administration

A federal agency responsible for protecting and promoting public health by controlling and supervising the safety of food, tobacco products, dietary supplements, prescription and over-the-counter pharmaceutical drugs, vaccines, biopharmaceuticals, medical devices, and veterinary products.

Enforcement Agency

A governmental agency that has the authority to enforce laws, regulations, or rules.

Truth-in-Lending Act

Legislation at the federal level intended to facilitate the informed use of credit by consumers by mandating the disclosure of its terms and costs.