Changes in Equity in the Previous Periods Up to the Beginning

question 21

Multiple Choice

Changes in equity in the previous periods up to the beginning of the current period that must be identified for the step 2 NCI entry do not include:

• A) changes in retained earnings, adjusted for the impact of BCVR entries on the opening balance of retained earnings.
• B) transfers to/from reserves.
• C) changes in share capital.
• D) dividends paid/declared.

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Definitions:

Empowerment

The process of granting individuals the power and resources to take initiative and make decisions, aiming to enhance their efficacy and involvement in organizational tasks.

Delegation

The transfer of authority and responsibility from one person to another for the completion of specific activities or tasks.

Authority and Decision

The power or right to make decisions, and the act of making choices or resolving issues, typically within an organizational context.

Delegation

The process of assigning responsibility and authority to others to carry out specific tasks while maintaining accountability for the outcome.