A ________ _________Statement Is an Additional Accounting Report That Complements

question 24

Short Answer

A ________ _________statement is an additional accounting report that complements the information in the income statement,balance sheet and statement of changes in equity.

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Definitions:

Ending Balance

The amount of money in an account at the end of an accounting period, after all debits and credits have been accounted for.

Equity Method

An accounting technique used to record investments in associate companies where the investor has significant influence but not full control.

Excess Consideration

The amount paid over and above the fair value of net assets acquired in a business acquisition.

Goodwill

An intangible asset that arises when a business is acquired for more than the sum of its identifiable net assets.