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Chapter 5
Statement of Changes in Equity
1. According to PAS 1, dividends declared by an entity are disclosed in the
a. Statement of financial position
d. Notes
b. Statement of profit or loss and OCI
e. Any of these
c. Statement of changes in equity
f. c or d
2. Which of the following shows a correct effect on equity?
Transaction
Effect on equity
a. Issuance of shares
Decrease
b. Retirement of shares
Increase
c. Profit
Decrease
d. Loss
Decrease
3. The amount of profit or loss appears in which of the following financial statements?
a. Statement of financial position
b. Statement of comprehensive income
c. Statement of changes in equity
d. b and c
4. The statement of changes in equity is dated
a. as of a point in time.
c. after some time.
b. for a period of time.
d. Not dated
5. The first line in the Statement of changes in owner’s equity is
a. Profit or loss
c. Additional contributions
b. Beginning capital
d. Drawings
“Be strong and courageous. Do not fear of be in dread of them, for it is the Lord your God who goes with you. He
will not leave you or forsake you.” (Deuteronomy 31:6)
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