1) Which of the following financial statements reports changes in financial position of the company during the accounting period?

Statement of cash flows

Statement of financial position

Balance sheet

All of these choices are report changes in financial position during the accounting period.

2) Which of the following is a measurement method that reflects historical value?

Acquisition cost

Fair value

Net realizable value

Replacement cost

3) Under IFRS, liabilities and shareholders' equity on the balance sheet usually appear in which order?

Noncurrent liabilities, current liabilities, and equity

Equity, current liabilities, and noncurrent liabilities

Equity, noncurrent liabilities, and current liabilities

Current liabilities, noncurrent liabilities, and equity

4) Which of the following is not a component of contributed capital?

Preferred stock

Earned capital

Treasury stock

Additional paid-in capital