The statement of changes in equity would not include which of the following?
A)Profit.
B)Net sales.
C)The closing balance in the relevant accounts from the previous year.
D)Dividends declared.

Question

Quizplus · Accepted Answer

The statement of changes in equity presents the changes in a company's equity during a certain period, and it includes items such as profits, dividends declared, share issuances, and revaluations. Net sales, however, are accounted for in the income statement to calculate the company's revenue. Therefore, net sales would not be included in the statement of changes in equity.

The Statement of Changes in Equity Would Not Include Which