The statement of changes in equity would not include which of the following?

Question

Quizplus · Accepted Answer

Net sales are a revenue item reported in the income statement, not the statement of changes in equity. The statement of changes in equity shows the changes in equity resulting from transactions with owners, such as issue of shares, dividends declared, profit/loss for the period, and any adjustments made to equity accounts. The closing balance in the relevant accounts from the previous year is also shown in the statement of changes in equity as opening balances for the current year.

The Statement of Changes in Equity Would Not Include Which