The statement of changes in equity:
A) Reports how equity changes at a point in time.
B) Reports how equity changes over a period of time.
C) Reports on cash flows for operating, financing, and investing activities over a period of time.
D) Reports on cash flows for operating, financing, and investing activities at a point in time.
E) Reports on amounts for assets, liabilities, and equity at a point in time.

Question

Quizplus · Accepted Answer

The statement of changes in equity reports how equity changes over a period of time, typically the financial year. It shows the movements in the different components of equity such as share capital, reserves, and retained earnings. It also includes transactions with owners, such as dividends paid or share buybacks.

The Statement of Changes in Equity