Under IFRS,the name of statement of owner’s equity is changed to:
Select one:
a. statement of changes in equity
b. statement of financial position
c. statement of proprietor’s equity
d. statement of equity
Correct answer----------a. statement of changes in equity.
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As per IFRS the statements that are prepared by management of a business are.
Under IFRS,the name of statement of owner’s equity is changed to: Select one: a. statement of...
Under IFRS,balance sheet isoften called Select one: a. cash flow statement b. statement of changes in equity c. statement of balance d. statement of financial position
Under IFRS, in the shareholders' equity section of the statement of financial position, Select one: a. accumulated other comprehensive income is not presented b. retained earnings and accumulated other comprehensive income are reported separately C. retained earnings is not presented d. accumulated other comprehensive income is reported as a sub-category of retained earnings
Which of the following accounts is not reported on the statement of changes in equity under IFRS? Select one: a. Dividends payable b. Accumulated other comprehensive income C. Preferred shares d. Retained earnings
Improperly capitalizing expenses results in: Select one: a. Accurate financial statements b. Overstated Owner’s Equity c. Understated Owner’s Equity d. Understated Net Income
Question 1 Not changed since last attempt Marked out of 2.00 P Flag question Following IFRS, significant influence investments are usually called: Select one: O A. Investments in financial instruments O B. Long-term equity method investments O C. Noncurrent stock investments D. Investments in associates
The IFRS Interpretations include (choose two): Select one or more: A) The IFRS Framework B) Standards Interpretations Committee (SIC) Interpretations, issued pre-2001 C) IFRS Interpretations Committee (IFRIC) Interpretations, issued since 2001 D) International Financial Reporting Standards (IFRS), issued since 2001 E) International Accounting Standards (IAS), issued pre-2001
Preparation of quarterly financial statements is required by Select one: a. both ASPE and IFRS b. IFRS C. ASPE d. most stock exchanges
A net loss should be shown as a(n) Select one: a. addition on the Balance Sheet. b. addition on the Income Statement. c. subtraction on the Statement of Owner’s Equity. d. addition on the Statement of Owner’s Equity.
For the accounts listed below, identify the type of account (asset, liability, owner’s capital, owner’s drawing, revenue, or expense), the normal balance (debit or credit), and which financial statement you would find the account on (income statement, owner’s equity statement, or balance sheet). Type of Account Normal Balance Financial Statement A Cash B Accounts Payable C Rent Expense D Accumulated Depreciation E Interest Revenue F Notes Payable G Advertising Expense H Owner's Drawings I Equipment J Owner's Capital K Sales...
The statement of financial position and statement of changes in equity are related because O the total assets on the statement of financial position is reported on the statement of changes in equity. O the ending amount on the statement of changes in equity is reported on the statement of financial position. O the ending amount on each statement is transferred to the statement of cash flows. O both contain information for the corporation.