The Statement of Financial Position and Statement of Changes in Equity

question 83

Multiple Choice

The statement of financial position and statement of changes in equity are related because

• A)the total assets on the statement of financial position is reported on the statement of changes in equity.
• B)the ending amount on the statement of changes in equity is reported on the statement of financial position.
• C)the ending amount on each statement is transferred to the statement of cash flows.
• D)both contain information for the corporation.

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Definitions:

Scapegoating

The practice of unfairly blaming an individual or group for problems or wrongdoings, often to divert attention from the real issues.

Economic Prejudice

Prejudice and discrimination toward people who are poorer or wealthier than you are.

Sexist Attitude

Sexist Attitude refers to beliefs and behaviors that discriminate or promote stereotypes based on an individual's sex or gender.

Pedestal

A base or support on which something stands, often used to elevate something to a position of honor or importance.