Financial statements prepared under ASPE include a
A) statement of comprehensive income.
B) statement of cash flows and a statement of changes in shareholders' equity.
C) balance sheet and a statement of retained earnings.
D) statement of retained earnings and a statement of comprehensive income.

Question

Quizplus · Accepted Answer

ASPE requires the preparation of a balance sheet and a statement of retained earnings. The statement of comprehensive income and statement of cash flows are not specifically required under ASPE, but are often included as supplemental information.

Financial Statements Prepared Under ASPE Include a