BUSINESS ADMINISTRATION
FINANCIAL ACCOUNTING
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
Statement of financial position
|
|
|
Statement of cash flows
|
|
|
Balance sheet
|
|
|
Income statement
|
|
|
Statement of changes in equity
|
Detailed explanation-1: -An equity statement – also referred to as a statement of owner’s equity or statement of changes in equity – is a financial statement that a company is required to prepare along with other important financial documents at the end of a reporting period.
Detailed explanation-2: -The balance sheet shows the balance, at a particular time, of each asset, each liability, and owner’s equity.
Detailed explanation-3: -The statement of owner’s equity is a financial statement that reports changes in equity from net income (loss), from owner investment and withdrawals over a period of time.
Detailed explanation-4: -The statement of stockholders’ equity is a financial statement that summarizes all of the changes that occurred in the stockholders’ equity accounts during the accounting year. It is also known as the statement of shareholders’ equity, the statement of equity, or the statement of changes in equity.
Detailed explanation-5: -Statement of Retained Earnings-also called Statement of Owner’s Equity.