CAF-1 · Chapter 8 · Question 4 of 15
Which of the following causes an overall change in equity during a period?
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: A) Total comprehensive income for the period.
Explanation
Total comprehensive income represents income and expenses that increase or decrease equity. Transfers between reserves or bonus issues merely reclassify amounts within equity without changing the overall total.
More Statement of Changes in Equity MCQs
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- Q9When an entity discovers a material error from a prior period, how is the correction presented in the statement of changes in equity?
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