Asked by Maria del Mar Ribas on May 04, 2024
Verified
The statement of changes in equity discloses changes in total shareholders' equity for the period as well as changes in each shareholders' equity account.
Shareholders' Equity
The residual interest in the assets of a corporation after deducting liabilities, representing the ownership interest of shareholders.
Statement of Changes
A financial report detailing the changes in equity of a company over a specific period.
- Describe the purpose and contents of the statement of changes in equity.
Verified Answer
AP
Avadh PatelMay 11, 2024
Final Answer :
True
Explanation :
The statement of changes in equity provides a detailed breakdown of the movements in shareholders' equity over a reporting period, including each specific equity account.
Learning Objectives
- Describe the purpose and contents of the statement of changes in equity.
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