What is the name for the balance sheet under international accounting standards?
A) Assets and Equity Attributable to Shareholders
B) Statement of Financial Position
C) Statement of Balance
D) The Equitable Claims Statement

Question

Quizplus · Accepted Answer

The correct name for the balance sheet under international accounting standards is the Statement of Financial Position. Option A is incorrect as it only mentions assets and equity attributable to shareholders, while the balance sheet also includes liabilities. Option C is incorrect as it is not the correct terminology. Option D is also incorrect, as there is no such thing as an Equitable Claims Statement under international accounting standards.

What Is the Name for the Balance Sheet Under International