The ________________ shows how and why the owner's equity account has changed over a stated period of time.

Question

Quizplus · Accepted Answer

The statement of owner's equity is specifically designed to show how and why the owner's equity account has changed over a stated period of time. The balance sheet displays the financial position of an organization at a specific point in time, while the income statement shows the organization's profitability over a specific period. The statement of change is not a recognized financial statement.

The ________________ Shows How and Why the Owner's Equity Account