Which Financial Statement Is Not Needed Under the IFRS Framework

question 58

Multiple Choice

Which financial statement is not needed under the IFRS Framework?

• A)Balance sheet.
• B)Statement of retained earnings.
• C)Income statement.
• D)Statement of cash flows.

---

Definitions:

Psychological Testing

The administration of standardized tests or assessments to measure various aspects of a person’s psychological functioning, such as intelligence, personality, or mental health.

Cultural Values

The core principles and ideals upon which an entire community exists, influencing their behavior and attitudes.

Tendencies

Inclinations or predispositions toward certain behaviors, thoughts, or actions that are characteristic of an individual or group.

Assimilated

The process by which a person or group adopts the cultural traits or social patterns of another group, often losing their original identity.