A(n) _______ Shows the Change in Equity from the End

question 30

Multiple Choice

A(n) _______ shows the change in equity from the end of last fiscal year to the end of the current one.

• A) income statement
• B) statement of changes in equity
• C) statement of cash flows
• D) P&L statement

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Definitions:

Calendar Year

The period from January 1st to December 31st, used for financial and administrative purposes.

Factoring

A financial transaction where a business sells its accounts receivable to a third party at a discount to obtain immediate cash.

Accounts Receivables

Liabilities of customers towards a business for commodities or assistance that have been executed or utilized, waiting to be paid.

Collecting Accounts

The process of managing the collection of revenues or receivables from clients or customers.