Under AASB 101,the Statement of Changes in Equity Is Required

question 4

Multiple Choice

Under AASB 101,the statement of changes in equity is required to include which of the following on its face?

• A) Profit or loss for the period
• B) Revaluation increments
• C) Both A and B
• D) Neither A nor B

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Definitions:

Income Level

A measurement of the amount of money received on a regular basis, typically used for assessing socioeconomic status.

Negative Correlation

A relationship between two variables in which one variable increases as the other decreases, and vice versa.

Inverse Relationship

A relationship between two variables wherein one variable increases as the other decreases, and vice versa.

Economic Status

The social standing or class of an individual or group often measured by income, wealth, education, and occupation.