In Which of the Following Way Is the Presentation of Changes

question 40

Multiple Choice

In which of the following way is the presentation of changes in shareholders' equity account treated under IFRS?

• A)Changes in all equity accounts are presented in a separate statement called "statement of changes in equity".
• B)Changes only in retained earnings are presented in the statement of retained earnings".
• C)Changes in all equity accounts are presented in the financial notes.
• D)Changes only in retained earnings are presented in a separate statement called "statement of changes in equity".

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Definitions:

Fixed Assets

Long-term tangible assets held for business use and not expected to be converted to cash in the current or upcoming fiscal year, such as land, buildings, and machinery.

Sole Proprietorship

A type of enterprise owned and run by one person, with no legal distinction between the owner and the business entity.

Life Span

The duration of time for which an organism, object, or service is expected to function or remain operational.

Taxes

Mandatory financial charges imposed by governments on individuals, corporations, and transactions to fund public expenditures.