10.7 Report shareholders' equity
1) Earned Capital includes Retained Earnings and Accumulated Other Comprehensive Income.
2) Contributed Capital includes Share Capital and Retained Earnings.
3) The components of Shareholders' Equity include the following two major categories:
A) Contributed Capital and Accumulated Other Comprehensive Income.
B) Earned Capital and Contributed Surplus.
C) Contributed Capital and Earned Capital.
D) Share Capital and Retained Earnings.
E) Contributed Surplus and Earned Capital.
4) Under IFRS, which of the following do companies NOT need to present as Other Comprehensive Income (OCI)?
A) Foreign currency transactions
B) Foreign currency translation adjustments
C) Changes in the fair value of a financial instrument in a cash flow hedge
D) Changes in the fair value of available-for-sale financial assets
E) Revaluations of property, plant, and equipment
5) Accumulated Other Comprehensive Income is the cumulative change in __________ related to other comprehensive income that bypasses net income.
6) What two statements are companies required to prepare under IFRS?
7) On which Statement is Accumulated Other Comprehensive Income reported?
8) What is the purpose of the Statement of Changes in Equity?