Which of the following would NOT appear under the Equity section of a Balance Sheet prepared under ASPE?
A) Share Capital.
B) Retained Earnings.
C) Accumulated Other Comprehensive Income.
D) Contributed Capital.

Question

Quizplus · Accepted Answer

Accumulated Other Comprehensive Income is typically reported under the Equity section of a Balance Sheet prepared under IFRS, not ASPE (Accounting Standards for Private Enterprises). ASPE does not have a specific category for Accumulated Other Comprehensive Income; instead, comprehensive income items are generally reported directly in retained earnings or in a separate statement.

Which of the Following Would NOT Appear Under the Equity