The Statement That Explains the Changes in Equity and Serves

question 21

Multiple Choice

The statement that explains the changes in equity and serves as a link between the balance sheet and the income statement is which of the following?

• A) Statement of cash flows
• B) Statement of changes in equity
• C) Operating statement
• D) Statement of financial position

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Definitions:

Poverty

A state where an individual or community lacks the financial resources and essentials for a minimum standard of living.

Functionalism

A theoretical perspective in sociology and anthropology that interprets each part of society in terms of how it contributes to the stability of the whole.

Conflict Theory

A sociological perspective that emphasizes the social, political, or material inequality of a social group, analyzing the broad socio-political system and its structural components of conflict.

Stratification

refers to the division of society into different classes or layers, often based on wealth, power, or social status.