Multiple Choice
The statement of changes in equity is required:
A) because IAS 1 deals with income and does not define profit.
B) to show profit and loss for the period.
C) to summarise the large number of transactions that take place on the statement of profit and loss.
D) to provide a reconciliation of opening and closing equity, and also to provide details of the various equity accounts that are impacted by the period's total comprehensive income.
Correct Answer:
Verified
Correct Answer:
Verified
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