A Statement of Changes in Equity Includes

question 10

Multiple Choice

A statement of changes in equity includes:

• A)each item of income and expense for the period that, as required by other International Financial Reporting Standards, is recognised directly in equity.
• B)profit or loss for the period.
• C)total income and expense for the period showing separately the total amounts attributable to equity holders of the parent and to minority interest.
• D)each item of income and expense for the period that, as required by other International Financial Reporting Standards, is recognised directly in equity, profit or loss for the period, and total income and expense for the period showing separately the total amounts attributable to equity holders of the parent and to minority interest.

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Definitions:

Causation

The relationship between an action and its effect, where the action is considered to be a contributing factor to the outcome or injury.

Negligence

The failure to exercise the standard of care that a reasonably prudent person would have exercised in a similar situation, leading to harm or damage.

Res Ipsa Loquitur

A legal principle that infers negligence from the very nature of an accident or injury, in the absence of direct evidence on how any defendant behaved.

Plaintiff

An individual or entity who initiates a lawsuit against another party in a court of law.