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The components of equity generally recognised by companies in a statement of financial position are:
(I) Provisions.
(II) Debentures.
(III) Share capital.
(IV) Other reserves.
(V) Retained earnings.
Select one:
(I), (II) and (III) only
(I), (III), (IV) and (V) only
(II), (III) and (V) only
(III), (IV) and (V) only
Expert Answer
Share capital, Other reserves and Retained earnings is classified under equity.
so correct answer is
(2) (III), (IV) and (V) only
