Examlex
The advantage of using a test that is "face valid" is that
Retained Earnings
Retained earnings are the accumulated net profits that a company chooses to keep rather than distribute to shareholders as dividends, often reinvested in the business.
Deficit
The shortfall that occurs when expenses exceed income or revenues.
IFRS
International Financial Reporting Standards, a set of accounting standards for financial reporting that is accepted globally.
Statement of Changes
A financial document that outlines the reasons for changes in equity, including transactions with owners and comprehensive income, over a period.
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