Under IAS 1/AASB 101, Concerning the Statement of Changes in Equity

question 14

Multiple Choice

Under IAS 1/AASB 101, concerning the statement of changes in equity, it is true that:

• A) it is an additional financial report that each entity is required to supply to its external users.
• B) it only shows changes in retained earnings not changes in share capital.
• C) transfers to reserves from retained profits do not have to be separately disclosed as they do not change total equity.
• D) opening and closing total equity must be reconciled showing all the changes for the period but this is not necessary for the components of equity.

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