Which Financial Statement Is Not Needed Under the IFRS Conceptual

question 18

Multiple Choice

Which financial statement is not needed under the IFRS Conceptual Framework?

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

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Definitions:

Communicating Honestly

The practice of sharing information, feelings, and thoughts sincerely and openly without deceit.

Public Trust

The belief and confidence the general public has in the integrity, reliability, and fairness of an institution or individual.

Agent-Based

Referring to systems or models that simulate the actions and interactions of autonomous agents to assess their effects on the system as a whole.

Moral Character

The combination of qualities, traits, and behaviors that determine an individual's ethical and moral principles.