Under IFRS, equity does NOT include
A) long-term leases.
B) common and/or preferred shares.
C) accumulated other comprehensive income.
D) retained earnings.

Question

Quizplus · Accepted Answer

Under IFRS, long-term leases are classified as either operating or finance leases and are presented separately from equity on the balance sheet. Equity includes all other items listed (common and/or preferred shares, accumulated other comprehensive income, and retained earnings).

Under IFRS, Equity Does NOT Include