The Statement of Changes in Equity Is Required

question 57

Multiple Choice

The statement of changes in equity is required:

• A) because AASB 101 deals with income and does not define profit.
• B) to show profit and loss for the period.
• C) to summarise the large number of transactions that take place on the income statement.
• D) to provide a reconciliation of opening and closing equity, and also to provide details of the various equity accounts that are impacted by the period's total comprehensive income.

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Definitions:

Bullying

A form of aggressive behavior in which someone intentionally and repeatedly causes another person injury or discomfort.

Harassment

Unwanted conduct affecting the dignity of men and women in the workplace; it can be related to age, sex, race, disability, religion, sexual orientation, or any other personal characteristic.

Absenteeism

The habitual non-presence of an employee at their job, which can be a sign of dissatisfaction or personal issues.

Burnout

A state of emotional, physical, and mental exhaustion caused by excessive and prolonged stress, often resulting from workplace pressures.