The financial statement that shows the beginning balance of equity, the changes in equity that resulted from new investments by the owner, Profit (or net loss), withdrawals, and the ending balance of equity is the
A) statement of financial position
B) statement of cash flows
C) balance sheet
D) income statement
E) statement of changes in equity

Question

Quizplus · Accepted Answer

The statement of changes in equity shows the beginning balance of equity, the changes in equity that resulted from new investments by the owner, Profit (or net loss), withdrawals, and the ending balance of equity. Therefore, option E is the correct answer.

The Financial Statement That Shows the Beginning Balance of Equity