A Statement of Changes in Net Assets in the Financial

question 43

Multiple Choice

A statement of changes in net assets in the financial statements of a not-for-profit organization corresponds most closely to which of the following in the financial statements of a profit-oriented business which reports under IFRS?

• A) The statement of financial position.
• B) The statement of cash flows.
• C) The income statement.
• D) The statement of changes in shareholders' equity.

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Definitions:

Social Identity

An individual's sense of who they are based on their group memberships, such as nationality, religion, or social class.

Outgroup

A term denoting any group you do not belong to or identify with, often perceived less favorably than one’s own group (ingroup).

Comparison

The act of evaluating two or more items, people, or situations to identify similarities, differences, or to ascertain superiority.

Uncertainty-Identity Theory

A social psychological theory suggesting that people join and identify with groups in order to reduce feelings of uncertainty about themselves and the world.